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If the compound interest on a certain sum of money for 2 years at 10% p.a. be Rs. 630, what would be the simple interest for 3 years at the same rate of interest?
- ARs. 900
- BRs. 800
- CRs. 880
- DRs. 980
Answer not set
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CCommunity
Amount after t years, when interest is compounded annually = $({\rm{P}}{\left( {1 + {\rm{R}}/100} \right)^{\rm{t}}})$
Let the sum be Rs. y. Then,
$({\rm{y}}{\left( {1 + 10/100} \right)^2} - {\rm{y}} = 630)$
By solving, we get
Sum, y = Rs. 3000
S.I. $(= \frac{{{\rm{P\;}} \times {\rm{\;R\;}} \times {\rm{\;T}}}}{{100}})$
S.I. $(= \frac{{3000{\rm{\;}} \times {\rm{\;}}10{\rm{\;}} \times {\rm{\;}}3}}{{100}} = {\rm{Rs}}.{\rm{\;}}900)$
Let the sum be Rs. y. Then,
$({\rm{y}}{\left( {1 + 10/100} \right)^2} - {\rm{y}} = 630)$
By solving, we get
Sum, y = Rs. 3000
S.I. $(= \frac{{{\rm{P\;}} \times {\rm{\;R\;}} \times {\rm{\;T}}}}{{100}})$
S.I. $(= \frac{{3000{\rm{\;}} \times {\rm{\;}}10{\rm{\;}} \times {\rm{\;}}3}}{{100}} = {\rm{Rs}}.{\rm{\;}}900)$