Question

If the simple interest on a sum of money at 10% per annum for 3 years is ₹1500, then the compound interest on the same sum at the same rate for the same period is

Answer 1

Answer:

Clearly, Rate = 5% p.a., Time = 3 years, S.I.= Rs. 1200. . .

So principal=RS [100*1200]/3*5=RS 8000

Amount = Rs. 8000 x [1 +5/100]^3 - = Rs. 9261.

.. C.I. = Rs. (9261 - 8000) = Rs. 1261.

hope this helps you