Question

the simple interest on a certain sum of money at 10% per annum is 6000 in 2 years find : a - the sum
b- the amount due at the end of 3 years and at the same rate of interest compounded annually
c- the compound interest earned in 3 years







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Answer 1

Answer:

a) SI= PRT/100

6000=P×10×2/100

6000=P×20/100

6000=P/5

P=6000×5

P=30000

Therefore the sum= 30000

b) CI=PRT/100

30000×10×1/100

3000

New principal= 33000 (30000+3000)

33000×10×1/100

3300

New principal= 36300 (33000+3300)

36300×10×1/100

3630

Total interest= 3000+3300+3630

= 9930

Therefore Amount= Principal+Interest

= 30000+9930

= 39930

c) As calculated in bit b) the compound interest in 3 years = 9930.

Answer 2

Answer:

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