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14. The simple interest on a sum of money for23 years at 6% per annum is 6750. What will3be the compound interest on the same sum atthe same rate for the same period, compoundedannually? |
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Answer» Step-by-step explanation: S.I=Rs.340,Time=2 years,R=4% (i)Let the sum of MONEY be rs.x S.I= 100 PRT
⇒340= 100 x×4×2
⇒x= 4×2 340×100
=Rs.4250 (ii)C.I for Rs. 4250 for one year payable HALF-yearly ∴ T=1 year=2 half year,Rate= 2 4
=2% A=P(1+ 100 R
) T
⇒4250(1+ 100 2
) 2
⇒4250( 100 102
) 2
⇒4250× 50 51
× 50 51
=4421.70 C.I=A−P ⇒4421.70−4250=Rs.171.70 |
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