Question

Simple intrest on asum of money for 3 years 6 1/4 per annum is 2400/-.what will be the compound intrest on that sum at the sum at the same rate for the same period

Answer 1

Principal amount = 2400

Rate of interest = 6 1/4 = 25/4

Time = 3 yrs

Simple interest = PRT/100

= 2400×25×3/4 ×100

= 450

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