The simple interest on a certain sum of money for 2 years is ₹160 at 4%per annum. Find the compound interest interest on the same sum of money at 5% per annum for 2 years. When the interest is compounded annunly.
73164 is answer
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The simple interest on a certain sum of money for 2 years is ₹160 at 4%per annum. Find the compound interest interest on the same sum of money at 5% per annum for 2 years. When the interest is compounded annunly.
73164 is answer
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Given
Time=2 years
SI=₹160
R=4%
LET=
SI=P*R*T/100
160=X*4*2 /100
160/1* X*4*2/100
X=160*100/4*2= 2000 ₹
GAIN=
P=20000₹
R=5%
T=2 YEARS
A=P(1+R/100)T
A=2000*(1+5/100)2
A=2000 *(21/20)
5*441
=2205
COMPOUND INTEREST
A-P
(2205-2000)₹
₹205
YOUR ANSWER IS ₹205
L=2 year
Si=160
R=4%
Refer to the attachment
Answer is 205