Question

Find the ordinary interest in a loan of Rs.2600 at 10 % simple interest from January 5 to February 10.? Find the present value of Rs.3600 due in 4 months at 6% interest p.a.? At what annual rate percent of interest would Rs.12500 amount Rs.14375 in 2 years & 6 months.? How long will it take for Rs.28000 to amount Rs.30680 at 4 % p.a simple interest.? In what time would the simple interest on Rs.30000 be Rs.60000 at 3-1/3 p.a.?

Answer 1

A simple interest calculation provides a useful estimate of what compound interest will be if what?