Question

The simple interest on a sum of money for 3 years at 5% per annum is 21000. What will be the
compound interest on that sum at the same rate and for the same period?​

Answer 1

Answer:

22067.5 /-

Explanation:

SI = PRT/100

21000 = P * 15/100 = 3P/20

P = 140000

CI = [P{(100+R)/100}^n(time)] - P

CI = [140000 * 21/20 * 21/20 * 21/20] - 140000

   = [140 * 441 * 21 / 8] - 140000

   = [35*441*21/2] - 140000

   = 22067.5 /-

HOPE THIS HELPED...........