the simple interest on a sum of money 2 year at 6% per annum is 9000.find the coumpound interest on that sum at the same rate fot the and for the same peroid
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Step-by-step explanation:
Given that, the compound interest on certain sum of money for 2 years at 10% per annum is Rs. 420
To find out: The simple interest on the same amount at the same rate and for the same time.
Let the principal amount be Rs. x
We know that, CI=P
⎣
⎢
⎡
(1+
100
R
)
T
−1
⎦
⎥
⎤
Here, CI=Rs. 420, R=10% and T=2
∴ 420=x
⎣
⎢
⎡
(1+
100
10
)
2
−1
⎦
⎥
⎤
⇒ 420=x
⎣
⎢
⎡
(
10
11
)
2
−1
⎦
⎥
⎤
⇒ 420=x[(
100
121
)−1]
⇒ 420=x(
100
121−100
)
⇒ x=
21
420×100
∴ x=Rs. 2000
Now, we also know that,
SI=
100
P×R×T
Here, P=Rs. 2000, R=10% and T=2
∴ SI=
100
2000×10×2
⇒SI=
100
40000
∴ SI=Rs. 400
Hence, the simple interest on the same amount, at the same rate of interest and for the same time is Rs. 400.
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