Question

If in 2 years at simple interest the principal increases by 18%, what will be the compound interest (in Rs) earned on Rs 7000 in 3 years at the same rate?

Answer 1

$r = 9\% \\ ci =(7000 \times ( \frac{109}{100} ) {}^{2} ) - 7000 \\ = > 2,065.203$