Question

simple interest on a certain sum of money for 3 years at 5% per annum is rupees 5250. what will be the compound interest on that sum at the same rate for the same period?​

Answer 1

Answer:

CI=1823.0625

Step-by-step explanation:

P=3500 T=3 R=5%

SI=$\frac{PRT}{100}$

  =5250

AMOUNT=3500 +1 $\frac{5}{100 } ^{3}$

A= $\frac{7*23*23*23}{4*4}$

A=5323.0625

CI=A-P

  =5323.0625-3500

   = 1823.0625

Answer 2

The compound interest will be Rs 5516.88.

Explanation:

Formula for simple interest : $I=\dfrac{PRT}{100}$

, where P=principal

R = rate of interest

T= time

Given : I= Rs 5250 , R= 5% and T= 3 years

Then,

$5250=\dfrac{P(5)(3)}{100}\\\\ P=\dfrac{ 5250\times100}{15}=35000$

Formula for compound interest : $CI=P((1+\dfrac{r}{100})^t-1)$

Put all values , we get

$CI=(35000)((1+\dfrac{5}{100})^3+1)\\\\= 35000((1.05)^3-1)\\\\ 35000(1.157625-1)\\\\=35000(0.157625)=5516.875\approx 5516.88$

Hence, the compound interest will be Rs 5516.88.

# Learn more :

The compound interest on a certain sum for 2 years at 10% is Rs.2100. What will be the simple interest for the same period on the same sum and at the same rate

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