the simple interest on a certain sum of money for 2 years at five whole 1 by 2% is rupees 6600 what will be the compound interest on that sum at the rate for the same wait for the same time period
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Step-by-step explanation:
A = P(1+r ÷ 100)^n
=6600 ( 1+ 2 ÷ 100 )^2
= 6600 ( 1 + 1 ÷ 50 )^2
= 6600 ( 50 + 1 ÷50 )^2
= 6600 ( 51 ÷ 50 )^2
= 6600 × 51 ÷50 × 51÷50
= 66 × 2601 ÷ 25
= 171666 ÷ 25
A = 6866.64 Rs
Compound Interest
=Amount - Principal
= 6866.64 - 6600
= 266.64 Rs
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