Question

The 2-year simple interest and compound interest on the corner are Tk 840 and 869.40 respectively. So, calculate the amount of capital and the annual interest rate??


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Answer 1

Step-by-step explanation:

given PTR/100= 840 AT T=2

=> PR/50= 840

and P( 1+ R/100) ^2 -P = 869.4

P( 1+ R^2/10^4+ R/50) -P = 869.4

PR^2/10^4 + PR/50 = 869.4

PR^2/10^4 +840 = 869.4

PR^2 /10^4 = 29.4

as PR= 42000

42000R/10000= 29.4

R = 29.4/4.2

R= 7

AS PR= 42000

P = 42000/7

P= 6000RS