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Question

Tick the correct answer in each of the following: 

If the simple interest on a sum of money at 5% per annum for 3 years is Rs 1200 then the compound interest on the same sum for the same period at the same rate will be 

(a) Rs 1225        (b) Rs 1236        (c) R 1248        (d) Rs 1261


Solution

S.I = Rs. 1200Rate (R) = 5%Period (T) = 3 years Principal=S.I.×100R×T=1200×1005×3=Rs. 8000 Amount on C.I =8000(1+5100)3=Rs. 8000×2120×2120×2120=Rs. 9261 C.I. = A - P = Rs. 9261 - 8000=Rs. 1261                                   (d)


Mathematics
Secondary School Mathematics VIII
Standard VIII

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