Question

25. The difference between the compound interest and simple interest on a certain
sum of money at 10% per annum for 2 years is 500. Find the sum when the
interest is compoundedd annually.
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Answer 1

P = 500 Rs
R = 10%
N = 2 years
SI = 500.10.2/100=100
SI
A= P(1+R/100)2
500(1+10%/100)2
=605Rs.
CI= A-P
= 605-500
= 105
Difference= CI-SI
105-100
=5Rs.

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