Question
The compound interest on a certain sum of money at 5% per annum for two years is ₹246. Calculate the simple interest on the same sum for three years at 6% per annum.
Answer: Option B
:
B
We know that,C.I=P[(1+r100)n−1]where Pis the principal, ris the rateof interest and tis the time period.
Hence,246=P[(1+5100)2−1]
246=P[(2120)×(2120)−1]246=P×(41400)
⇒P=246×40041=₹2400
Now, P=₹2400,r=6%per annum andt =3years
S.I=P×r×t100=2400×6×3100=₹432
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:
B
We know that,C.I=P[(1+r100)n−1]where Pis the principal, ris the rateof interest and tis the time period.
Hence,246=P[(1+5100)2−1]
246=P[(2120)×(2120)−1]246=P×(41400)
⇒P=246×40041=₹2400
Now, P=₹2400,r=6%per annum andt =3years
S.I=P×r×t100=2400×6×3100=₹432
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