Question

10. The difference between the compound interest and the simple interest on a certain principal at the rate of 15% p.a. for 3 years is 2,268. Find the principal.


I need it deep xplain ok

Answer 1

Step-by-step explanation:

Given CI−SI=Rs.283.50

R=15%

n=3 years

Let the sum be Rs.x

We know that : A=P(1+

100

R

)

n

A=2(1+

100

5

)

3

=x(1.15)

3

_________ (1)

Aslo, SI=

100

PRn

=

100

x×15×3

=1.45x _______ (2)

Thus, we have :

x(1.15)

3

−1.45x=283.50 (from (1)&(2))

⇒1.523x−1.45x=283.50

⇒0.070875x=283.50

⇒x=

0.070875

283

=4,000