Question

Simple interest accrued on a sum of certain principal in 8 years at the rate of 13% per year is rs.6500 what would be the compound interest accrued on that principal at the rate of 8% per year in 2 years

Answer 1

Answer:

Answer is 1040 use the formula p× r× t by 100 and then the other formula a= p (1+ r) 100

Answer 2

Answer: The Compound Interest on Rs6250 is Rs1040.

Step-by-step explanation:

Simple Interest = Rs6500

Time = 8yrs

Rate = 13%

Principal = ?

Let the principal be P.

SI =$\frac{PRT}{100}$
⇒ 6500 = $\frac{104P}{100}$
⇒ P = $6500$ x $\frac{100}{104}$
⇒ P = 6250

Therefore the principal amount is Rs6250

Now, P = Rs6250

Rate = 8%

Time = 2yrs

CI = $P [ 1 + \frac{R}{100} ]$ⁿ - P
CI= 6250 [ 1 + $\frac{8}{100}$]² - 6250
CI = [6250 x $\frac{729}{625}$] - 6250

CI = [729× 10] - 6250

CI = 7290 - 6250
CI = 1040

Hence, the Compound Interest on Rs6250 is Rs1040.

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