If The Simple Interest On A Sum Of Money At 5% Per Annum For 3 Years

1.	If The Simple Interest On A Sum Of Money At 5% Per Annum For 3 Years Is Rs. 1200, Find The Compound Interest On The Same Sum For The Same Period At The Same Rate?
Answer» Clearly, RATE = 5% p.a ., TIME = 3 years S.I =Rs.1200. So,Principal =Rs.(100 x 1200/3x5) =Rs.8000. Amount =Rs.[8000 x (1+5/100)³] =Rs(8000x21/20x21/20x21/20) = Rs.9261 C.I =Rs.(9261-8000) =Rs.1261. Clearly, Rate = 5% p.a ., Time = 3 years S.I =Rs.1200. So,Principal =Rs.(100 x 1200/3x5) =Rs.8000. Amount =Rs.[8000 x (1+5/100)³] =Rs(8000x21/20x21/20x21/20) = Rs.9261 C.I =Rs.(9261-8000) =Rs.1261.

If The Simple Interest On A Sum Of Money At 5% Per Annum For 3 Years Is Rs. 1200, Find The Compound Interest On The Same Sum For The Same Period At The Same Rate?

Answer»

Clearly, RATE = 5% p.a .,

TIME = 3 years

S.I =Rs.1200.

So,Principal

=Rs.(100 x 1200/3x5)

=Rs.8000.

Amount

=Rs.[8000 x (1+5/100)³]

=Rs(8000x21/20x21/20x21/20)

= Rs.9261

C.I

=Rs.(9261-8000)

=Rs.1261.

Clearly, Rate = 5% p.a .,

Time = 3 years