Question

The interest paid on a certain sum of money after 6 years at the rate of
8% p.a was Rs.3600. Find the principal borrowed and the amount
returned.

Answer 1

Answer:

Rate = 8%

Compound interest in the third year = 3600

Compound interest in the fourth year = 3600 + 3600 × (8/100) = 3888

Difference between the compound interest in the 4th and 5th year = 3888 × (8/100) = 311.04

Step-by-step explanation:

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Answer 2

Please refer the image above.