SOLUTION: The simple interest on a certain sum of money for 3 years at 12%p.a is 6750. What will the compound interest on that sum at the same rate for the same period ?

Question 1049593: The simple interest on a certain sum of money for 3 years at 12%p.a is 6750. What will the compound interest on that sum at the same rate for the same period ?

Answer by satyareddy22(84) (Show Source): You can put this solution on YOUR website!
S.I = (PTR)/100
S.I=6750 ,T =3 YRS,R=12% ,P= ?
SUBSTITUTING VALUES IN ABOVE FORMULA WE GET P=18750
NOW A=P(1+R/100)^T
P=18750 ,R=12%,T=3 YRS
A=18750(1+12/100)^3
= 18750(28/25)^3
= 26342.4
NOW C.I=A-P
=26342.4 - 18750 =7592.4
C.I = 7592.4
RELATED QUESTIONS
The simple interest on a certain sum of money for 3 years at 12% p.a is $6750. What will... (answered by jorel555)

The simple interest on a certain sum of money for 3 years at 12% p.a is Rs 6750. What... (answered by satyareddy22)

The difference between simple interest and compound interest on a certain sum of money... (answered by ankor@dixie-net.com)

Q1: A,B and C can do a piece of work in 36,24 and 18 days respectively.if A is assisted... (answered by stanbon)

the simple interest on a certain sum for 3 1/2 years at 7% p.a is rs.225 more that the... (answered by mananth)

The simple interest on a sum of money in one year is N$50 and compound interest in two... (answered by Theo)

Find the difference between the compound interest and simple interest on a sum of $50,000 (answered by rfer)

What is the simple interest on a loan of $600 for 3 years at 6%... (answered by solver91311)

A finance company charges $55 simple interest on a sum of money which is borrowed for... (answered by robertb)