The simple interest on a certain sum of money For 3 years at 5% per annum is 1200 find amount due and compound interest on a sum of money at same rate and after 2 year interest is reckoned annually
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4
Answer:
8000=amount of simple intrest, and total compound intrest is 820
Step-by-step explanation:
simple intest of 8000 for 3 year 5% and si=1200
compound intrest is of 2year is 820 for first year 400 and second year is 420 the total compund intrest of two year is 820
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EXPLANATION.
- GIVEN
simple intrest on a certain sum of money
for 3 years at 5% p.a annum is 1200
To find amount due and compound intereston a sum of money at the same rate and after 2 years intrest is reckoned annually.
According to the question,
Let RS x be the sum of the money
Rate = 5%
Rs = 1200
n = 3 years
simple intrest =
x = 8000
amount due and compound interest
on a sum of money at the same rate
and after 2 years.
p = RS = 8000
Rate = 5% p. a
n = 3 years
C. I = A - P
C. I = 8820 - 8000
C. I = 820
The amount after 2 years is ₹ 8820
The compound interest is ₹ 820
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