Question

Find the equivalent rate of simple interest when a sum of Rs 40,000 is deposited at

5%per annum compounded annually for 3 years. (Use (1.05)3 = 1.157)​

Answer 1

Answer:

Given .. P=40000₹ .. R=5%....T=3 years

We know that ,

S.I = P × R × T × 0.01

:: 40000 × 5 × 3 × 0.01

:: 6000 ₹

The rate of Simple Intrest is ₹ 6000

Answer 2

Answer:

40,000. Rate of interest equals to 5% per annum and total compound interest calculated for time period 'n' equals to Rs. 44,100. So, rate = 5100 .

Step-by-step explanation:

$\huge\red {Thank \:you}$