Question

the simple interest on a sum of money for 2 years at 4% per annum is 340.(the compound interest on this sum for one year payable half yearly at the same rate)​

Answer 1

Given That :-

S.I. = ₹ 340

Time = 2 years

Rate = 4%

We know that :-

there is principal ( P) is not given. So , firstly we have to calculate p then find compound interest .

Solution :-

$S . I = \frac{p \ * \ r \ * \ t}{100}$

$340 = \frac{p \ * \ 4 \ * \ 2}{100}$

$p = \frac{340 * 100}{4 *2}$

p = ₹ 4250

Now ,

we know that

C.I = A - P

and,

C.I for Rs. 4250 for one year payable half-yearly

∴ time  = 1 year = 2 half year Rate = $\frac{4}{2}$  = 2

so,

$A = p(1+\frac{R}{100} )^T$

$A =4250(1+\frac{2}{100} )^2$

$A = 4250(\frac{102}{100})^2$

$A = 4250$ × $\frac{51}{50}$ × $\frac{51}{50}$

A = 4421.70

since ,

C.I = A - P

C.I = 4421.70 − 4250

C.I = Rs.171.70

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