Question

the simple interest on certain sum of money at 6% per annum for 3 years is rs 432 .what is the compound interest on the same sum of 2 years at 5% per annum , compounded annually?​

Answer 1

Step-by-step explanation:

Let the certain sum be x. So simple interest on x for 3 years at 6%p.a. = 432 ruppees =>

x(6)(3)/100 =432=>18x=43200=> x= 2400 ruppees. So the compound interest on this sum for 2 years at 5%p.a. compounded annually =>

$2400(1 + \frac{5}{100})^{2} - 2400 = >$

$2400 {(1.05)}^{2} - 2400 = 2400(1.1025) -$

$2400 = > 246 \: ruppees$

Hope it helps you.

Answer 2

Let the certain sum be x. So simple interest on x for 3 years at 6%p.a. = 432 ruppees =>

x(6)(3)/100 =432=>18x=43200=> x= 2400 ruppees. So the compound interest on this sum for 2 years at 5%p.a. compounded annually =>