the simple interst on a certain sum for 3 1/2 years at 10% per annum is rs 2940. what will be the compound interest in on the same sum for 2 1/2 years at the same rate when interest is compound yearly.?
Answers
The compound interest for the same sum for 2.5 years is Rs. 2259.6
Step-by-step explanation:
The Simple Interest, SI = 2940
Time, n = 3.5 years
Rate of Interest, r = 10%
The principal, P, is calculated as:
SI = Prn/100
2940 = (P x 10 x 3.5) / 100
P = (2940 x 100) / 35
= 8400
Thus, the Principal is Rs. 8400.
The compound interest for the same sum in 2.5 years is calculated as follows;
CI = Amount -Principal
Amount = 〖P (1+r/100)〗^2.5
Thus,
CI = 〖P (1+r/100)〗^2.5 – P
= 8400 〖(1+10/100)〗^2.5 – P
= 8400 〖(110/100)〗^2.5 - 8400
= (8400 * 1.269) – 8400
= 10659.6 – 8400
= 2259.6
Thus, the compound interest for the same sum for 2.5 years is Rs. 2259.6
Answer:
Step-by-step explanation:-
First we will take out the principal
As we can see there is 10 % annually interest rate and the given time is 3.5 year with A interest value of 2940...
3 and half year = 7/2 years and 10 is int. Rate
So, 7/2 * 10 = 35%
Then if. 35% = 2940rs
So , Principal 100% = 2940/135*100
. = 8400rs is our principal
Now compound int.
T= 2.5 years , p=8400 , Rate of int.=10% annually
8400*(1+10/100)^2.5 -8400
8400*11/10*11/10*21/20-8400
10672 - 8400 = 2272 is our compound int. Of 2.5 years...