Question

simple interest on a certain sum for 3 years is rupees 1080 and the compound interest on the same sum and same rate for 2 years is Rs741.60. find the rate of interest and principal​

Answer 1

Answer:

Step-by-step explanation:

C.i. = 741.60

S.i. = pr×3/100 = 1080

Or , pr/100 = 360

Now c.i. is for 2 yrs. So 360+360+21.60 =741.60

Now 21.60 is 6% of 360

Then P = 6000