Question

if the simple interest on a sum at 4% per annum for 2 years is rupees 80 then the compound interest on the sum of for the same period is

Answer 1

Let take x as principal

SI = (PNR/100)

80 = (x × 2× 4 /100)

80×100/4×2= x

1000= x = principal

Find CI

=[1000(1+4/100)^2]

=1000×26/25×26/25

=1081.6

CI=(1081.6-1000)=81.6 Rs

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Answer 2

Answer:₹24000

Step-by-step explanation:

Simple interest(S.I.)=₹80

Rate of interest(r)=4%

No.of years(n)=2 years

We know that,

S.I.=Pnr/100

Where P is principle

80=P×2×4/100

P=80×25/2

So,P=₹1000

Now, Compound interest =P[(1+r)^n-1]

=1000[(1+4)^2-1]

=1000[25-1]

=1000[24]

=₹24000