Question

the simple interest on a certain sum of money for two years is 5 is to one upon two percent is rs 6600 what will be the compiund interest on the same rate forvthe same time

Answer 1

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SIMPLE INTEREST:

TIME=2YRS

RATE OF INTEREST=11/25 PA

SI=PRT/100=RS 6600

=> P*11*2/2*100=6600

=>11P/100=6600

=>11P=660000

=>P=660000/11

=>P=60,000

COMPOUND INTEREST:

AMOUNT= P(1+R/100)N

=60000(1+11/2/100)2

=60000(1+11/200)2

=60000(211/200)(211/200)

=3*211*211/2

=RS. 66781.50

NOW CI

= AMOUNT-PRINCIPAL

=RS(66781.50-60000)

=RS6781.50

Answer 2

SIMPLE INTEREST:

TIME=2YRS

RATE OF INTEREST=11/25 PA

SI=PRT/100=RS 6600

=> P*11*2/2*100=6600

=>11P/100=6600

=>11P=660000

=>P=660000/11

=>P=60,000

COMPOUND INTEREST:

AMOUNT= P(1+R/100)N

=60000(1+11/2/100)2

=60000(1+11/200)2

=60000(211/200)(211/200)

=3*211*211/2

=RS. 66781.50

NOW CI

= AMOUNT-PRINCIPAL

=RS(66781.50-60000)

=RS 6781.50