The simple interest on a certain sum of money for two years at 5% is 6 – InterviewSolution

InterviewSolution

1.	The simple interest on a certain sum of money for two years at 5% is 6,600.The simple interest on a certain sum of money for two years at 5 26 isWhat will be the compound interest on that sum at the same rate for the sametime period?
Answer» p=6,600r=11/2=5 .5t=2CI=6,600×5.5×1÷100=363A=6,600+363=6,963CI=6,963×5.5÷100=382.9A=6,963+382.9=7,345.9

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