Question

The simple interest accrued on an amount of rs 45000 in 3 years is rs 16200. What will be the compound interest accrued on the same amount in 2 years at the same rate of interest while compounding annually

Answer 1

Answer:

p=45000

r=?

t=3yrs

si=16200

Step-by-step explanation:

si=p×r×t/100

16200=45000×3×r/100

r=16200×100/45000×3

r=12%

compound interest =p(r+1/100)^t

ci=45000(12+1/100)^2

45000×112/100×112/100

amount=56448

ci=amount-p

ci=56448-45000

ci=11448