Question

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 period​

Answer 1

Answer:

The CI for a sum of money for 2 years at the rate of 10% per annum compounded annually is Rs.315. Find the simple interest for the same sum for the same period at the same rate.

Hard

Solution

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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.