Question

The simple interest on a certain sum of money for 2 years at 11/2% is Rs 6,600 what will be the compound interest on that sum at the same rate for the same time period

Answer 1

.. First of all u hv to find out the Principal with the given information... Like I hv done in above answer.. Then u hv to use it in finding the CI.. This is how the answer is found out.. Hope my answer helps..

Answer 2

The compound interest is Rs.678150

Step-by-step explanation:

Let the principal be x

Time = 2 years

Rate of interest =$\frac{11}{2}\% = \frac{11}{200}$

Simple interest = Rs.6600

$SI = \frac{P \times T \times R}{100}$

$6600=\frac{x \times 2 \times \frac{11}{200}}{100}$

$\frac{6600 \times 100}{2 \times \frac{11}{200}}=x$

6000000 =x

Principal = Rs.6000000

Rate of interest =$\frac{11}{200}$

Time =  2 years

$Amount = P(1+r)^t \\Amount = 6000000(1+\frac{11}{200})^2$

Amount = 6678150

Compound interest =  6678150  -  6000000= Rs.678150

Hence The compound interest is Rs.678150

#Learn more:

The simple interest on a certain sum of money for 2 years at 5 and half percent is Rs 6,600

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