Question

The compound interest on a certain sum of money at 5% p.a. for 2 years is Rs. 246
Calculate the Simple Interest on the same sum for three years.

Answer 1

5% pa, what does the pa represent?

Answer 2

246 = P(1+.05/n)^(2n)

246(1+.05/n)^(-2n) = P

simple interest = 246(1+.05/n)^(-2n) * .05 * 3

maybe?

Answer 3

ahh, pa, per annum (once a year so n=1)

Answer 4

i'm asking u n u r asking me instd? :p
r'nt u confident?

Answer 5

this is a site for studying, not for direct answers. Therefore its best if you can spot any errors in assumptions that I am making ....

Answer 6

the vernacular tends to throw me at times .... and it helps that you have more context related to a solution than I do

Answer 7

since pa relates to a compounding of once a year, then the "n" variable is just 1

simple interest is a simple formula: I = Prt

using the calculated P, and the stated r and t ... i cant see anywhere that I might have missed it