Question

if the simple interest of a sum of money at, 10% per annum for 3years is 1500 the the compounded interest on the same sum at the same rate for the same period​

Answer 1

Step-by-step explanation:

S.I=p×t×r/100

or,1500=p×3×10/100

or,p=1500×100÷30

or,p=5000

Now,CI=p×(1+r/100)^n

or,CI=5000×(10+1÷10)^3

or,CI=5000×(11/10)^3

or,CI=5000×1331/1000

or,CI=6655 ans