The simple interest on a sum of money for 2 years at 12 % per annum is ₹ 1380 . Find : 1) The sum of money , 2) The compound interest on this sum for one year payable half - yearly at the same rate .
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The simple interest on a sum of money for 2 years at 12 % per annum is ₹ 1380 . Find : 1) The sum of money , 2) The compound interest on this sum for one year payable half - yearly at the same rate .
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Answer:
1.5750
Step-by-step explanation:
I=pnr
=p×2×12/100
1380=24p/100
138000/24=p
p=5750
2. compound interest
i= p(1+r)*n
=5750(1+12/100)*2
=5750(112/100)*2