Question

10. The difference between simple interest in a
sum of money for 3 years and 2 years at
10% per annum is * 300. Find the sum.
​

Answer 1

HERE IS YOUR ANSWER

Compound Interest for 3 years at 2% pa = 306.04 Say Principal

= p, we have (p*(102/100)^3)-p 306.04

= 1.061208p - p

= 306.04

= 0.061208p

= 306.04

= p = 306.04/0.061208

= p = 5000

SI = 5000*2/100*3= 300.

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