The simplest interest on a sum of money for eyears at 12% per annum is £ 1380. Find the compound interest he earns on it for the second

Question

The simplest interest on a sum of money for eyears
at 12% per annum is £ 1380. Find the compound interest he earns on it for the second year at the same rate​

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Nevaeh 1 month 2021-10-29T22:05:25+00:00 1 Answer 0 views 0

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    2021-10-29T22:06:35+00:00

    Answer:

    principal=1380×100/1×12=11500$

    interest=11500×2×12/100=2760$

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