in what time will 8500 amount to 15385 at the interest rate of 9 per annum?
Answers
Answered by
3
Answer:
Answer
Given
P=Rs.8500,R=6%,n=2 yrs
We know that amount A at the end of n years at the rate R % per annum when the interest is compounded annually is
A=P(1+
100
R
)
n
=8500(1+
100
6
)
2
=8500(
100
106
)
2
=
100
85×106
2
=0.85×106
2
=Rs. 9550.6
Also CI=A−P=9550.6−8500.0=Rs1050.6
We know that SI=
100
PRT
=
100
8500×6×2
=Rs1020
∴ Difference between CI and SI
CI−SI=9550.6−1020.0=Rs.8530.6
Similar questions