The CI for a sum of money for 2 years at the rate of 10% per annum compounded annually is*315. Find the simple interest for the same sum for the same period at the same rate.
Answers
Answer:
Rs. 300
Step-by-step explanation:
C.I for 2 years = Rs. 315
Let the Principal be P
Amount= p+Compound interest
To find the values
Amount = P(1 + R/100)ⁿ
P + 315 = P(1 + 10/100)²
P + 315 = P × 11/10 × 11/10
P + 315 = 121p/100
100P + 31500 = 121p
121P - 100P = 31500
21P = 31500
P = 1500
So, the Principal is Rs. 1500
simple Interest = (P × R × T)/100
= (1500 × 10 × 2)/100
= 30000/100
S.I. = Rs. 300
So, Simple Interest on Rs. 1500for 2 year at 10% is Rs. 300
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Answer:
Compound interest 2 years =Rs. 315
Let principal=Rs. P
Amount =Principal+Interest
=Rs. P+315
A=P(1+R/100)
n
P+315=P(1+10/100)
2
=P(11/100)
2
P+315=121P/100
100P+31500=121P
21P=31500
P=1500
Principal is Rs. 1500
Simple interest=P×R×T/100
S.I=1500×10×2/100
S.I=30000/100
S.I=300Rs.
Simple interest for 2 years at 10% on Rs. 1500 is Rs. 300.
