Question
Soni gets a SI of Rs. 3360 on a certain principle at the
rate of 7%p.a. in 2 years. What CI will she get on twice the principal in 2 years at the same rate?Solution
P= (SI ×100)/ (R × T) = (3360 × 100)/ (7 × 2) = 24000 Now the principle for CI=24000×2=48000 Count 3 years interest rate at the rate of 7% -7/100. 1st year100107 2nd year100107 1000011449 Rate increase =1449/10000) ×100=14.4% So now CI =48000×14.49/100 =6955.2
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