Question

On what sum of money will compound
interest (payable annually) for 2 years be the
same as simple interest on 9,430 for
10 years, both at the rate of 5 percent per
annum ?
​

Answer 1

Answer:

Sum of money =46,000

Hope it will help you

Answer 2

Answer:

46K

Step-by-step explanation:

si on 9430 at 5% for 10 y is 50% of 9430 = Rs4715.

The above value = CI of(Sum) for 2 years at 5%,

CI of 5% for 2 years is 10.25% , ( How? ...5 +5 +5*5/100)

Now 10.25% = 4715.
100% = 4715*100/10.25 = 46000/-