If the simple
interest on a sum of money for 2 years at
5% per annum is Rs 40. what will be the compound
interest on the same sum at the rate for the same
time?
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Answer:
Simple Interest = Rs. 40
Time = 2 years
Rate = 5% per annum
Therefore, Principal = S.I ×100/R × T
= 40× 100/ 5× 2
= 400
Principal = Rs. 400
Now, Compound Interest = P ( 1 + R/100)^n
= 400 ( 1 + 5/100)^2
= 400 ( 100 + 5 / 100 )^2
= 400×105/100×105/100
= 441
Compound Interest = Rs. 441
Step-by-step explanation:
sorry if answer is wrong
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