The simple interest received on a sum of money at the end of 10 years is two times of the principle. At the same rate of interest, what would be the ratio of principal and compound interest received at the end of two years?
Created: 4 years ago |
Updated: 3 years ago
best des
ATQ,
Pxrx10 = 2P Or, r = 1/5
Compound Interest = P{(1 + r)^n - 1} = P{(1 + 1/5)^2 - 1} = 0.44P
The ratio of principal and compound interest = P/0.44P = 100/44 = 25:11
Md Azizur Rahman
Founder of Satt
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