The difference between the compound interest and the simple interest on a sum of money for 1.5 years at 12 percent per annum is RS 150 calculate the amount
Answers
Answered by
0
Answer: 20833.33
Explanation:
Given:
Amount at the end of the year: 112
Amount at the end of the 1.5 year: 112 * 1.06
To find: Amount
As we have Simple interest of at the end of 1.5 years = 118
Difference in compound interest and simple interest = 118.72–118 = 0.72
The difference in Principal amount is = rupees 150
Therefore,
Amount = 100*150/0.72 = 20833.33
Hence, The total amount is 20833.33
Method II :
Given:
Compound Interest for 1.5 year = 18.72%
Simple Interest FOR 1.5 YEARS = 18%
We get % of 150..
Therefore,
0.72 % = 150
To find => 100%= ?
Amount= 100×150/0.72 = 20833.33
Similar questions