Question

if the SI on the sum of money for 3 years at the rate of 2% per annum is rupees 306.04 then what will be the SI? ​

Answer 1

Answer:

sl = 5000*2/100*3=300.

Step-by-step explanation:

Compound Interest for 3 years at 2% pa = 306.04

Say Principal = p, we have

(p*(102/100)^3)-p = 306.04

= 1.061208p - p = 306.04

= 0.061208p = 306.04

= p = 306.04/ 0.061208

= p = 5000

SI = 5000*2/100*3= 300.