Question

The simple interest on a certain sum for 7/2 years at 10% per annum is 2,940. What will be the compound interest on the same sum for 5/2 years at the same rate when interest is compounded yearly (nearest to a rupee)?

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Answer 1

Step-by-step explanation:

SI = PRT /100

SI = P x 10 x 7/2 /100

2940 = 35P

P = 2940/35

P = 84 Rs

Compound Interest

is 22.6 and amount is 106.6