Question

8. The difference between the compound interest and the simple interest on a certain
sum for 2 years at 5% per annum is Rs 40. Find the sum.
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Answer 1

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Answer 2

Answer:

Explanation:

CI= A-P

SI= PRT/100

CI-SI=₹40

[P{1+5/100}raised to 2 - P]-P*5*2/100=40

P{21/20*21/20-1}-1/10=40

P{441-400/400}-40/400=40

P*41-40/400=40

P*1/400=40

P*1=40*400

P=16000