If the simple interest on a sum of money for 3 years at 8% per annum is ₹ 7500, find the compound interest on the same sum, for the same period at the same rate. And try to do as much questions as you can
Answers
Answer:
Rs. 4869.6
Step-by-step explanation:
SI= P* R* T/ 100
7500 = P* 8* 3 /100
P= 7500 *25/ 6
P= RS.1875
CI= P[(1+r/100)^n - 1]
= 18750 [(1+8/100)^3 - 1]
= 18750 [ (27/25)^3 - 1]
= 18750 [ 19683 / 15625 - 1]
= 18750 * 4058/ 15625
= 24348 / 5
= Rs. 4869.6
✌ Hope it's helpful for you ✌
Step-by-step explanation:
Let principal = P
Time = 3 years
Rate = 8%
Simple interest = ₹7500
=> Principal = (interest × 100) / (rate × time)
= P = (7500 × 100) / (8 × 3)
= P = ₹31250
Now
Compound interest =
Principal × (1 + rate% / 100)^time - Principal
= 31250 × (1 + 8/100)^3 - 31250
= 31250 × {(100 + 8)/100}^3 - 31250
= 31250 × 108/100 × 108/100 × 108/100 - 31250
= 39366 - 31250
= ₹ 8116
& amount received on compound interest = ₹39366
& amount received on simple interest = 31250 + 7500 = ₹38750