Question

28. Difference between the compound interest and simple
interest on a certain sum for 2 yrs. at 7.5% per annum
is Rs.360. Find the sum.
​

Answer 1

Inteterst (I)

Amount (A)

Rate per annum (R)

Time taken in years (T)

Principle (P)

I =P×R×T

-------------

100

360=P×7.5×2

------------------------

100

P=2×7.5

----------------

360×100

P=15

------------

36000

P= 2400

.....Principle is Rs 2400