Question

the simple interest on a certain sum of money for 2 years at 10% per annum in 1600 find the amount and compound interest on the sum of money at the same rate after 3 years interest being reckoned annually please explain​

Answer 1

Answer:

heya here is ur answer

Step-by-step explanation:

Given that simple interest = 1600 when n = 2 and r = 10%i.e. 1600 = P(2)(10)/100

P = 8000 rupees.

Now this 8000 rupees is invested at compound rate for 3 years at 10%

Here it is compounded annually and hence formula would be

P(1+r/100)^3

Hence amount received at the end of 3 years

=

COmpound interest = 648 and

final amount received = 10648 rupees.

Answer 2

Answer:

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