the simple interest on a sum of money for 2 years at 12% per annum is rupees 1380 (i) find the sum of money (ii) the compound inte

Question

the simple interest on a sum of money for 2 years at 12% per annum is rupees 1380
(i) find the sum of money
(ii) the compound interest on this sum for 1 year payable half-yearly at the same rate. ​

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Diễm Thu 5 months 2021-08-18T09:09:41+00:00 1 Answers 45 views 0

Answers ( )

    0
    2021-08-18T09:10:48+00:00

    Answer:

    5750

    710.7

    Step-by-step explanation:

    Simple interest = principal. * rate * time

    Principal (p) = sum of money

    1380 = p * 0.12 * 2

    1380 = 0.24p

    p = 1380 / 0.24

    p = 5750 rupees.

    The compound interest :

    A = P(1 + r/n)^nt

    A = final amount

    n = number of compounding times per period

    t = period

    A = 5750(1 + 0.12/2)^2*1

    A = 5750(1 + 0.06)^2

    A = 5750(1.06)^2

    A = 5750 * 1.1236

    A = 6460.7

    Hence, compound interest is :

    Final amount – principal

    6460.7 – 5750

    = 710.7 rupees

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