6. The difference between the Cl compounded annually and the SI on a certain sum for 3 years at 10%
p.a. is 62. Find the sum.
Answers
Answer:
The principal is Rs.60.135
Step-by-step explanation:
Let the principal be x
Case 1:
Principal = x
Time = 3 years
Rate of interest = 10%
\begin{gathered}A=P(1+r)^t \\A=x(1+0.1)^3\\A=1.331x\end{gathered}
A=P(1+r)
t
A=x(1+0.1)
3
A=1.331x
Compound interest = Amount - Principal = 1.331 x -x = 0.331x
Case 2 :
Principal = x
Time = 3 years
Rate of interest = 10%
\begin{gathered}SI = \frac{P \times T \times R}{100}\\SI = \frac{x \times 3 \times 10}{100}\\SI=0.3x\end{gathered}
SI=
100
P×T×R
SI=
100
x×3×10
SI=0.3x
We are given that the difference between C.I. and S.I. for 3 years at 10% per annum is RS 62
So, 1.331x-0.3x=621.331x−0.3x=62
1.031x=621.031x=62
x=\frac{62}{1.031}x=
1.031
62
x=60.135x=60.135
Hence The principal is Rs.60.135
#Learn more:
The difference of s.I and c.I on a sum at 5% per annum for 3 years is rs. 1525. Find the sum