Question

If the simple interest on a sum of money at 5% p.a, for 3 years is Rs 1200 then the compound interest on the same sum for the same period at the same rate will be​

Answer 1

Answer:

P=SI×100÷R×T

=1200×100÷5×3=8000

Amount =P(1+r/100)ť

=8000(1+5/100)³

=8000(105/100)³

=8000×105/100×105/100×105/100

=21×21×21

=9261

CI=A-P

=9261-8000

=1261