Let the sum be Rs. P
P{
- 1 } = 2828.80
It is in the form of
P(8/100)(2 + 8/100) = 2828.80
P = 2828.80 / (0.08)(2.08)
= 1360/0.08 = 17000
Principal + Interest = Rs. 19828.80
Given principal amount = Rs. 8000
Time = 3yrs
Rate = 5%
C.I for 3 yrs =
Now, C.I for 2 yrs =
Hence, the required difference in C.I is 1261 - 820 = Rs. 441
so, answer is 4 years
Let the sum be Rs. x. Then,
Thus, the sum is Rs. 2160
We know that,
From given data, P = Rs. 8625
Now, C.I =
C.I =
594.5 =
% .
> 2P
Now, (6/5 x 6/5 x 6/5 x 6/5) > 2.
So, n = 4 years.
when interest is reckoned using compound interest, interest being compounded annually. The difference in the simple interest and compound interest for two years is on account of the interest paid on the first year's interest Hence 12% of simple interest = 90 => simple interest =90/0.12 =750.
As the simple interest for a year = 750 @ 12% p.a., the principal =750/0.12 = Rs.6250.
If the principal is 6250, then the amount outstanding at the end of 3 years = 6250 + 3(simple interest on 6250) + 3 (interest on simple interest) + 1 (interest on interest on interest) = 6250 +3(750) + 3(90) + 1(10.80) = 8780.80.
Rs.100 invested in compound interest becomes Rs.200 in 5 years.
The amount will double again in another 5 years.
i.e., the amount will become Rs.400 in another 5 years.
So, to earn another Rs.200 interest, it will take another 5 years.
Amount = =Rs.8820
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