The simple interest on a sum of money for 2 years at 10% p.a. is 1700.Find:
(a) the sum of money, (b) the compound interest on this sum for 1 year, payable half-yearly at the same rate.
Answers
Answered by
9
the sum is= Rs. 8500
the compound interest = Rs.107525
the compound interest = Rs.107525
Answered by
12
Step-by-step explanation:
for,
N=2years
R=10%
P=1700
so= PNR/100
=1700×10×2/100
P=8500
compound interest
A=8500[1+10/100]²
ci =8500[(21/20)²-1]
ci. =8500[441/400-1]
ci = 8500[41/400]
ci=871.25
The sum is =8500
the compound interest=871.25
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