Question
Simple interest on a sum at 12% p.a. for 3 years is
₹2160. Find the compound interest on the same sum at 10% p.a. for 2 years.Solution
( P × 12 × 3 ) / 100 = 2160 ⇒ P = 6000. CI = 6000 × (1.1)² − 6000 = 7260 − 6000 = 1260.
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