if the simple interest on a sum of money at 5%p.a annum for 3 years is rupees 1200 the compound interest for the same sum for the same period at the same rate
if the simple interest on a sum of money at 5%p.a annum for 3 years is rupees 1200 the compound interest for the same sum for the same period at the same rate
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so
p= s.i*100/p*r
p=1200*100/5*3
p=8000
c.i= 8000(1+5/100)³-8000
=8000*1.157625-8000
=9261-8000
=1261.
Answer:
Principal = Rs 8000, CI = Rs 1261
Step-by-step explanation:
S.I = p * r* t/100
t = 3 year
S.I = Rs 1200
r = 5%p.a
1200 = p * 5 * 3/100
1200 * 100/15 = p
p = Rs 8000
Now,
for compound interest
A = p ( 1 + r/100)^t
= 8000 ( 1 + 5/100)^3
= 8000 * 21 * 21 * 21 / 20 * 20 * 20
= 21 * 21 * 21 = 9261
CI = A - P = 9261 - 8000 = Rs 1261