Ram invested a certain amount of money for 3 years at 8% per annum. The simple interest earned by him is half the compound interest on R4,000 for 2 years at 10% per annum. Find the simple interest earned by Ram
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Step-by-step explanation:
Compound Interest Calculator: Calculate the Power of Compounding in your Investments
With compound interest, the interest that you earn increases with the increase in your investment (monthly/quarterly/semi-annual/or annual investment plus the interest that you are earning on this investment). This calculator will help you calculate the worth of your investment after a set number of monthly investments or even a single, initial investment, based on the interest accrued on the invested amount.
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Investment Type
10,000
Compounding Interval
12
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