Question

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

Answer 1

Answer:

Here is your answer

Step-by-step explanation:

S.I=Rs.340,Time=2 years,R=4%

(i)Let the sum of money be rs.x

S.I=100PRT

⇒340=100x×4×2

⇒x=4×2340×100=Rs.4250

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

∴ T=1 year=2 half year,Rate=24=2%

A=P(1+100R)T

⇒4250(1+1002)2

⇒4250(100102)2

⇒4250×5051×5051=4421.70

C.I=A−P

⇒4421.70−4250=Rs.171.70