1.

find the difference between the compound interest and the simple interest on certain sum for 2 years 5% per annum is 60 rupees . find the sum. Pls give proper answer

Answer»

Let the sum be P = RS. 100.

time T = 2 years, rate of INTEREST R = 5% per annum

Simple interest =  PRT/100= 100×5×2/100=

Rs 10

Compound amount= P( 1+R/ 100)^T

= 100×(1+5/100)²

= 110.25

Therefore the compound interest = compound amount - principal

= 110.25 - 100

= 10.25

the DIFFERENCE between the compound interest and simple interest

= 10.25 - 10.00

= 0.25

if the difference between the CI and SI is Rs. 0.25 the principal = Rs. 100

if the difference between the CI and SI is Rs. 60 the principal = (100/0.25)×60

= 24000

Thus The Sum Is Rs. 25000.

hope this helps you.


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