Question

Different between compound interest and simple interest on a certain sum at 5 percent for 2 year is₹1.50 find the sum

Answer 1

Answer:

let sum = P

SI = P*2*5/100 = P/10

CI = P(1+5/100) 2-P = 441P/400-P

Therefore,

441P/400-P/10-P = 1.50

(441P - 40P - 400P) = 600

P = 600

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