Compound interest on a certain sum of money at 5% per annum for two ye

1.	Compound interest on a certain sum of money at 5% per annum for two years is 246 Rs . Calculate simple interest on the same sum for 3 years at 6% per annum
Answer» Given:- <P> Rate = 5% Time = 2 YEARS C.I. = Rs 246 To find :- S.I. = ? Solution :- Formula $\implies$ $C.I. = P[(\dfrac{r}{100})^n - 1]$ Put the given values-- $246 = P[(\dfrac{5}{100})^2 - 1 ]$ $246 = P[ (\dfrac{1}{20})^2 - 1]$ $246 = P[ (\dfrac{21}{20})^2 - 1 ]$ $246 = P[ \dfrac{441-400}{400}]$ $246 = P[\dfrac{41}{400}]$ $\dfrac{246 \times 400}{41} = P$ P = Rs2400 ▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬ S.I. = ? Time = 3 years Rate = 6% Formula to find S.I. $S.I. = \dfrac{P \times R \times T}{100}$ Put the given values :- $\dfrac{2400 \times 6 \times 3}{100}$ $Rs~ 432$ Answer => S.I. = Rs 432