Question

What is the compound interest earned at the end of 3 years? I. Simple interest earned on that amount at the same rate and for the same period is rs. 4500. Ii. The rate of interest is 10 p.C.P.A. Iii. Compound interest for 3 years is more than the simple interest for that period by rs. 465?

Answer 1

.

P(r/loo) ^2 x(3+r/loo,) =465

p(lO/100) ^2 x(3+ IO/100) =465

p =465x100x100x100/100x310

P=15000

CI is 45oo+465= Rs 4965