Question

simple interest on a certain sum of money for 2 years at 12% per annum is Rs 1920 what will be the compound interest on the same rate and for the same period



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Answer 1

Answer:

p=rs1920,r=12%,t=2years

SI=p×t×r/100

SI=1920×12×2/100

SI=768

Answer 2

Answer:

Principal= 8000

Compound interest = 2035.2

Step-by-step explanation:

Principal=?

Rate = 12%

Time= 2 years

Simple Interest =1920

S.I = P×R×T/100

1920 = P×12×2/100

Principal = 8000

Now; We have to find Compound Interest

Therefore,

Principal=8000

Time=2 years

Rate =12%

Amount = P(1+R/100)^T

Amount = 10035.2

Now; Comound Interest= Amount-Principal

Compound Interest = 10035.2-8000

Compond Interest= 2035.2