Question

on what sum of money will compound interest payable annually for 2 years be the same as simple interest on rupees 9430 for 10 years both at the rate of 5% per annum​

Answer 1

Answer:

46,000

Step-by-step explanation:

We know that  

Compound Interest = p(1 + r/100)^n – p

Simple interest = p x r x t /100

Let sum of money be y

So y(1 + 5/100)^2 – y = 9430 x 5 x 10 /100

Y(1 + 1/20)^2 – y = 943 x 5

Y(21/20)^2 – y = 4715

Y(441/400) – y = 4715

Y(441/400 – 1) = 4715

Y(441 – 400 /400) = 4715

Y(41/400) = 4715

Y 41 = 4715 x 400

Y = 1886000 / 41

Y = 46,000

So sum of money will be Rs 46,000

Answer 2

Step-by-step explanation:

Hope it helps........