Question
Avantika gets a SI of Rs.4800 on a certain principal at
the rate of 6%p.a. in 4 years. What CI will she get on twice the principal in two years at the same rate?ÂSolution
P= (SI × 100)/(R × T) = (4800 × 100)/(6 × 4) = 20000 CI = P[1+ R/100]t   - P CI = 40000[1+ 6/100]2 - 40000 CI = 40000 ×  106/100 × 106/100 -  40000 =  44944 - 40000 =  Rs. 4944
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