Question

the simple interest on a certain sum of money for 3 years at 20/3 percent per annum is rs 13,500 what will be the compound interest on the same sum at the same rate for same time period compounded annually​

Answer 1

Answer:

Compound Interest = 14420.768 rupees

Step-by-step explanation:

Simple interest = Principal amount × rate of interest × time

which means,

I = PRt

Here,

We have to find the Principal amount.

So.

The equation can be rewritten as:

$P = \frac{I}{Rt}$

Here,

• R = 20/3% = 6.66% = 6.66/100 = 20/300
• I = Rs 13500
• t = 3 years

⇒ P = $\frac{13500}{(\frac{20}{300)}\times3}$

⇒ P = $\frac{13500}{0.02}$

⇒ P = Rs 67500

Compound interest : 67500(1. 06667)³ = 81920.768

Therefore,

Interest = 81920.768 - 67500 = 14420.768 rupees

Answer 2

Answer:

14420is the ans

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