If the compound interest on a certain sum of mone3 years at 10% p.a. b

1.	If the compound interest on a certain sum of mone3 years at 10% p.a. be *993, what would be the siinterest(a) 3800(b)(d)950.1000
Answer» Let sum of money be P, Time period T = 3, Rate of Interest R = 10%, CI = 993, Amount = A For compound interestA = P(1 + R/100)^TP + CI = P(1 + 10/100)^3P + 993 = P(1.1)^3P + 993 = 1.331P1.331P - P = 993.331P = 993P = 993/.331P = 3000 For simple interestSI = PRT/100SI = 3000103/100SI = 900 (c) is correct option

If the compound interest on a certain sum of mone3 years at 10% p.a. be *993, what would be the siinterest(a) 3800(b)(d)950.1000

Answer»

Let sum of money be P, Time period T = 3, Rate of Interest R = 10%, CI = 993, Amount = A

For compound interestA = P(1 + R/100)^TP + CI = P(1 + 10/100)^3P + 993 = P(1.1)^3P + 993 = 1.331P1.331P - P = 993.331P = 993P = 993/.331P = 3000

For simple interestSI = P*R*T/100SI = 3000*10*3/100SI = 900