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The simple interest of a sum of money at...

The simple interest of a sum of money at the rate of 4% per annum in 3 years is Rs. 303.60. Then find the compound interest of the same principal at the same rate of compound interest in the same period of time.

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Let the principal be Rs. `x`.
`:.` The simple interes of `Rs.x` at the of 4% simple interest per anuum in 3 years.
`=Rs.(x xx4xx3)/100=Rs. (3x)/25`
As per question `(3x)/25=303.60impliesx=(303.60xx25)/3`
`impliesx=2530`
Henc ethe principal `=Rs. 2530`
Now the compound interest of Rs.x in 3 years at the rate of 4% compound interest per annum.
`=Rs.2530xx(1+4/100)^(3)-Rs.2530`
`impliesRs. 2530xx{(26/25)^(3)-1]`
Rs.`=Rs. 2530xx(17576/15625-1)=Rs.2530xx(17576-15625)/15625`
`=Rs.2530xx1951/15625`
`=Rs.315.905=Rs.315.91` (approx)
Hence the required compound interet `=Rs. 315.91` (approx)
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