the simple interest on a certain amount of money at a certain rate of interest for 4 years is Rs.160. Find the simple interest on double the amount of money at the same rate for 2 years.
1 thought on “the simple interest on a certain amount of money at a certain rate of interest for 4 years is Rs.160. Find the simple interest on”
Step-by-step explanation:
Considering that you will give money on Simple interest on 9% per annum.
Simple formula amount formula,
A=P +SI
AMOUNT COMES out to 7000(one time investment) provided interest rate remains constant.
I don’t how you will get 9% simple interest. IF you 9% interest in normal cases is extremly good.
Case 2) Compound interest
A =P +(1+r/100)^n
9520=x +(1+9/100)^4
6744.160=x
You will get compund interest in PFF, some specials loans, and in some investments.
9520 is very small amount so I would recommend to earn some and then give money. Even if it is a bank, a bank like kotak 10k as minimum amount as deposit.
So wait and earn more.
Invest in bitcoins and stocks after lot of thinking.
Step-by-step explanation:
Considering that you will give money on Simple interest on 9% per annum.
Simple formula amount formula,
A=P +SI
AMOUNT COMES out to 7000(one time investment) provided interest rate remains constant.
I don’t how you will get 9% simple interest. IF you 9% interest in normal cases is extremly good.
Case 2) Compound interest
A =P +(1+r/100)^n
9520=x +(1+9/100)^4
6744.160=x
You will get compund interest in PFF, some specials loans, and in some investments.
9520 is very small amount so I would recommend to earn some and then give money. Even if it is a bank, a bank like kotak 10k as minimum amount as deposit.
So wait and earn more.
Invest in bitcoins and stocks after lot of thinking.