The simple interest accrued on an amount of R | vedclass

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Question

$SI =\frac{ P 	imes R 	imes T }{100} \Rightarrow 7200=\frac{20000 	imes R 	imes 3}{100} \Rightarrow R =12 \%$

Hence, $CI = P \left[\left(1+\fra

Vedclass · Accepted Answer

$8098.56$

Vedclass · Answer

$SI =\frac{ P 	imes R 	imes T }{100} \Rightarrow 7200=\frac{20000 	imes R 	imes 3}{100} \Rightarrow R =12 \%$

Hence, $CI = P \left[\left(1+\frac{ R }{100}ight)^{3}-1ight]$

$=20000\left[\left(1+\frac{12}{100}ight)^{3}-1ight]=20000\left[\left(\frac{28}{25}ight)^{3}-1ight]$

$=20000\left[\frac{21952-15625}{15625}ight]=20000\left[\frac{6327}{15625}ight]= Rs .8098 .56$

The simple interest accrued on an amount of $Rs. 20000$ at the end of $3$ years is $Rs. 7200$ . What would be the compound interest accrue on the same amount at the same rate in the same period?

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