If the simple interest on a sum of money for 2 years at 5% per annum is Tk. 50. What is the compound interest on the same sum at the same rate and for the same time?
Created: 6 years ago |
Updated: 3 years ago
best des
Hints: Sum = Tk. ( 50× 100) / (2× 5) = Tk. 500
Amount = Tk. [ 500×(1 + 5/100)2]
= Tk. ( 500 × 21/20 × 21/20)
= Tk.551.25
Compound Interest i tk. ( 551.25 - 500) = Tk. 51.25
Md Azizur Rahman
Founder of Satt
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