Question

If the CI on a sum of money for 3 years at

the rate of 2% per annum is 306.04, then
what will be the SI?​

Answer 1

Compound Interest = Total amount of Principal and Interest in future (or ) less the Principal amount at present called (PV). PV is the current worth of a future sum of money or stream of given a specified .

Compound Interest = Total amount of Principal and Interest in future (or ) less the Principal amount at present called (PV). PV is the current worth of a future sum of money or stream of given a specified .where P = Principal, i = annual interest rate in percentage terms, and n = number of compounding periods for a year.

Compound Interest = Total amount of Principal and Interest in future (or ) less the Principal amount at present called (PV). PV is the current worth of a future sum of money or stream of given a specified .where P = Principal, i = annual interest rate in percentage terms, and n = number of compounding periods for a year.P=306.04/[(1+0.02)^3–1]=5000

Compound Interest = Total amount of Principal and Interest in future (or ) less the Principal amount at present called (PV). PV is the current worth of a future sum of money or stream of given a specified .where P = Principal, i = annual interest rate in percentage terms, and n = number of compounding periods for a year.P=306.04/[(1+0.02)^3–1]=5000The formula for calculating simple interest is:

Compound Interest = Total amount of Principal and Interest in future (or ) less the Principal amount at present called (PV). PV is the current worth of a future sum of money or stream of given a specified .where P = Principal, i = annual interest rate in percentage terms, and n = number of compounding periods for a year.P=306.04/[(1+0.02)^3–1]=5000The formula for calculating simple interest is:Simple Interest = Principal x Interest Rate x Term of the loan

Compound Interest = Total amount of Principal and Interest in future (or ) less the Principal amount at present called (PV). PV is the current worth of a future sum of money or stream of given a specified .where P = Principal, i = annual interest rate in percentage terms, and n = number of compounding periods for a year.P=306.04/[(1+0.02)^3–1]=5000The formula for calculating simple interest is:Simple Interest = Principal x Interest Rate x Term of the loan= P x i x n

Compound Interest = Total amount of Principal and Interest in future (or ) less the Principal amount at present called (PV). PV is the current worth of a future sum of money or stream of given a specified .where P = Principal, i = annual interest rate in percentage terms, and n = number of compounding periods for a year.P=306.04/[(1+0.02)^3–1]=5000The formula for calculating simple interest is:Simple Interest = Principal x Interest Rate x Term of the loan= P x i x nSimple Interest = 5000*0.02*3=300