Question

the simple intrest on a sum of money for 3 years at 5% is 1000 what will be compound intrest on that sum at the same rate and for the same period

Answer 1

Answer:

$simple \: interest = \frac{ptr}{100} \\ 1000 \times 100 = p \times 15 \\ p = \frac{100000}{15} \\ p = 6666.67$

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