Question

if the compound interest on a sum of money for 2 years at 12 and half % is rs 510 the simple interest on same rate and time is ??​

Answer 1

Step-by-step explanation:

Let the sum be Rs. P

the formula we know is:

compound interest= [p+( 1+rate of interest/100 )² - p]

According to the question,

[p+( 1+rate of interest/100 )² - 1] = 510

p [(9/8)²-1]=510

p= (510x64)/17

p=1920

so the sum is Rs. 1920

simple interest is=sumXrate of siXtime÷100

=Rs. 480

that is the answer