Question

4.On what sum of money does the difference between the simple interest and compound interest in
2 years at 5% per annum is 15?​

Answer 1

Step-by-step explanation:

C.I – S. I = 15

P[(1.05)^2 – 1] – P×2×5 /100 = 15

P[0.1025 – 0.1] = 15

P = 15/0.0025

P =6000