Question

In what time will Rs. 5000 amount to Rs. 5400 at 8% per annum simple interest
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Answer 1

Answer:

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Step-by-step explanation:

Calculate the amount and the compound interest on Rs5000 in 2 years when the rate for interest for successive years  is 6% and 8% respectively.

Answer

1st year

Principal, P=Rs.5000

Time, T=1 year

Rate of interest ,R=6%

∴simple Interest, SI=100PTR​=1005000×10×6​=Rs.300

∴Amount=P+SI=Rs.5300

2nd year

Principal = Amount of 1st year=Rs.5300

Rate of interest =8%

Time =1 year

∴ Interest =1005300×1×8​=Rs.424

∴ Amount =Rs.(5300+424)=Rs.5724

The interest of 2nd year is the required compound interest. So, C.I=rs.424 and the required amount is Rs.5724

Answer 2

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