Question

the compound interest for a sum of money for 2 years at the rate of 10% per annum compounded annually is 315 rupees find the simple interest for the same sum for the same period at the same rate

Answer 1

principle=x
amount=₹315=x{1+(10/100)}^2
=x(11/10)^2=₹315
=x*(121/100)=₹315
=(121/100)x=₹315
=x=315/(121/100)
=(315*100)/121=x
=31500/121=x
=x=260.33