Question

No one can answer this tooo difficult to understand ,................ The compound interest on a certain sum of money at 5percent per annum for 2 years is rs 328. What is the simple intrest on that sum at the same rate and for the same period of time?

Answer 1

Answer:

The simple interest on that sum at the same rate is rupees 320.

Step-by-step explanation:

Let the principal be x.

Rate of interest = 5%=0.05

Time = 2 years

Formula for amount:

A=P(1+r)^tA=P(1+r)

t

A=x(1+0.05)^2A=x(1+0.05)

2

A=x(1.05)^2A=x(1.05)

2

I=A-PI=A−P

I=1.1025x-xI=1.1025x−x

The compound interest on a certain sum at 5% p.a. for 2 year is 328.

328=0.1025x328=0.1025x

\frac{328}{0.1025}=x

0.1025

328

=x

3200=x3200=x

The value of sum is 3200.

Formula for simple interest is

I=P\times r\times tI=P×r×t

I=3200\times 0.05\times 2=320I=3200×0.05×2=320

Therefore the simple interest on that sum at the same rate is rupees 320.

Answer 2

Hey Mate!!

$Compound \: Interest=P(1+r)^{n} \\=> 328 = P(1+\frac{5}{100})^{2}\\\\ => 328 = P(\frac{100+5}{100})^{2}\\\\=>328=P \times \frac{105}{100} \times \frac{105}{100} \\\\=>328=P \times \frac{21}{20} \times \frac{21}{20} \\\\=>328=P \times \frac{441}{400}\\\\=> P = \frac{328 \times 400}{441} = 297.5\\\\Simple \:Interest = \frac{PRn}{100}\\ =\frac{297.5 \times 5 \times 2}{100}\\\\= \frac{2975}{100}= 29.75$

Hence, the simple interest will be ₹29.75.