Question

If the simple Simple interest a a sum of money for 2 years at 5% P.a. is RS 100. What is the Compound interest on the Same Sum at the Same rate and for the same time? ?​

Answer 1

Step-by-step explanation:

first we will find principal

100*i/2*5

principal is 1000

now we will find compound interest for 2 years

for first year

1000*1*5/100

50

for first year 1000+50

1050

for second year

1050*1*5/100

52.5

1050+52.5

1102.5 is amount he has to pay

compound interest is 1102.5-1000

102.5 is compound interest

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