Question

The simple interest on the sum of money for 3 years at 21/4 percent per annum is 8750.find compound interest on the same sum at same rate for same period.

Answer 1

SI=PTR/100

or,8750=(P*3*(21/4))/100

or,P=Rs.55555.56

C.I=P((1+R/100)^3-1)

=Rs 9217.414