Question

If the compound Interest on a certain sum for 2 years at 12% per annum is 1590 ,what would be the simple interest​

Answer 1

Hola !!!

>>>> Given

Rate of Interest R= 12,

Time n = 2 years

>>>> First Find the Principal

Let P be the Principal

Amount = P+ 1590. .......................(1)

We have,

$Amount = P\times(1+\dfrac{R}{100})^{2}$

Substitute the values

= $Amount = P\times (1+\dfrac{12}{100})^{2}$

= $Amount= P\times(1+0.12)^{2}$

= $Amount = P\times(1.12)^{2}$

= $Amount = 1.2544P$ .................(2)

Equate (1) & (2)

P+ 1590 = 1.2544P

1.2544P - P = 1590

0.2544P = 1590

P = 1590/0.2544

P = 6250 Rs.

>>>>> Find the Simple Interest (SI)

SI on P at the rate of r % Interest for n years = $\frac{P\times R}{100\times n}$

SI on 6250 at the rate of 12% Interest for 2 years = $\frac{6250\times12}{100\times2}$

= 1500 Rs.

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Answer 2

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