find the sum which will amount to rupees 16 5.75 in 3.5 years at 3% per annum simple interest
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Answer:
For ,
N=3years
R=5 %
We have S.I.=
100
PNR
=Rs600
=>
100
P×3×5
=600
=>P=Rs4,000
And on interest being compounded for 2 years, Amount=P(1+
100
R
)
N
=4,000×(1+
100
5
)
3
=4,000×1.05
3
=Rs4,630.50
So, C.I.=A−P=Rs4,630.50=Rs4,000=Rs630
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