Question

the simple interest on a certain sum of money for 2 years at 10% per annum is rupees 1600. Find the amount due and the compound interest on this sum of money at the same rate after 3 years ,interest being reckoned annuallyplease answer it fast with full solution.It's urgent!!!!!

Answer 1

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

= $8000(1+\frac{10}{100})^3  =10648$

COmpound interest = 648 and

final amount received = 10648 rupees.

Answer 2

Answer:

and the compound interest is 2648