If the simple interest on a sum of money at 5% per annum for 3 years is Rs. 1200, find the compound interest on the same sum for the same period at the same rate.

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Clearly, Rate = 5% p.a ., Time = 3 years S.I =Rs.1200. So,Principal =Rs.(100 x 1200/3x5) =Rs.8000. &…

If the simple interest on a sum of money at 5% per annum for 3 years is Rs. 1200, find the compound interest on the same sum for the same period at the same rate.

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