A certain principal is invested at the annual rate of interest of 5% for 2 years. The difference between compound interest and simple interest is Rs.I (Rupee one). What is the principal?
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Answer:
Principle=400
Step-by-step explanation:
SI for 2 years for 5% interest=5*2=>10%
CI for 2 years formula
2R+R^2/100
2*5+r^2/100=10.25
The difference between compound interest and simple interest is Rs.I (Rupee one).
10.25-10=0.25%
0.25%=1 rupee
100%=400 rupees
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