Question

the simple interest on a certain. Sum of money for3year at5% per annum is₹600 find the amount due and the compound interest on this sum of money at the same rate after 3year interest being compounded annually

Answer 1

Using formula of {P= (SI×100)/R×T}

We will get P= RS 4000.

Now using A=P×{1+r/100}^n

Here P= 4000, r=5%, n=3.

We get A=Rs 4630.50.

Therefore CI= A- P= 4630.5 - 4000

= RS 630.50 And.