Question

The simple interest on a certain sum of money for 2 years is ₹160 at 4%per annum. Find the compound interest interest on the same sum of money at 5% per annum for 2 years. When the interest is compounded annunly.

73164 is answer

Answer 1

Given

Time=2 years

SI=₹160

R=4%

LET=

SI=P*R*T/100

160=X*4*2 /100

160/1* X*4*2/100

X=160*100/4*2= 2000 ₹

GAIN=

P=20000₹

R=5%

T=2 YEARS

A=P(1+R/100)T

A=2000*(1+5/100)2

A=2000 *(21/20)

5*441

=2205

COMPOUND INTEREST

A-P

(2205-2000)₹

₹205

YOUR ANSWER IS ₹205

Answer 2

Given

L=2 year
Si=160
R=4%
Refer to the attachment

Answer is 205