the simple interest on a sum of money for 3 years at 6 2/3%[ mixed fraction]  per annum is rs 6750 whatt will be the compound interest on the same sum at the same rate for the same period, compounded annualy  ans=rs 7210

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@verma.kirti111: Very good!Keep posting!

 

Compound interest on the sum of money, Rs P at r % p.a. for n years, C.I. =

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  • 4

 6750 = P * 20 / 3 * 3 / 100

6750 = P * 20/100

6750 = P / 5

P = 6750 *5

P = 33750

CI = P( 1 + r/100)n - 1

CI = 33750 (1 + 20/3 / 100)3 - 1

CI = 33750 ( 16/15)3 - 1

CI = 33750 * 4096 / 3375 - 3375 / 3375

CI = 33750 * 721 /3375

CI = 7210

  • 6

 CI =  RS 7210

  • -1
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