Simple interest on a sum at 4% per annum for 2 years is Rs.80.The compound interest on the same sum for the same period is:
2 years
3 years
4 years
Rs.81.60
Explanation:
Let time be t years
882=800(1+5100)t=882800=(2120)t882=800(1+5100)t=882800=(2120)t
= (2120)2=(2120)t⇒t=2(2120)2=(2120)t⇒t=2
time = 2 years
Let time be t years
882=800(1+5100)t=882800=(2120)t882=800(1+5100)t=882800=(2120)t
= (2120)2=(2120)t⇒t=2(2120)2=(2120)t⇒t=2
time = 2 years