Question
The compound interest on a certain sum of money at 5% per annum for 2 years is Rs.246. The simple interest on the same sum for 3 years at 6% per annum is
Answer: Option A
Answer: (a)Using Rule 1,C.I. = P$[(1 + R/100)^T - 1]$246 = P$[(1 + 5/100)^2 - 1]$246 = P$[(21/20)^2 - 1]$246 = P$({441 - 400}/400)$246 = ${41P}/400$P = ${246 × 400}/41$ = Rs.2400SI = $\text"Principal × Time × Rate"/100$= ${2400 × 3 × 6}/100$ = Rs.432
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Answer: (a)Using Rule 1,C.I. = P$[(1 + R/100)^T - 1]$246 = P$[(1 + 5/100)^2 - 1]$246 = P$[(21/20)^2 - 1]$246 = P$({441 - 400}/400)$246 = ${41P}/400$P = ${246 × 400}/41$ = Rs.2400SI = $\text"Principal × Time × Rate"/100$= ${2400 × 3 × 6}/100$ = Rs.432
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