Example 15: The difference between the compound interest and the simple interest ona
certain sum at 10% per annum for three years is 93. Find the sum.
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The difference of the compound interest and simple interest on a certain sum money for 3 years at the rate of 10
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Simple interest =100P×R×T
P=Principle=x
R=Rate=10% Per annum
T=Time =3 years
⇒S.I=100x×10×3=103x
Compound interest=Amount − Principle
Amount =P(1+100R)T
=x(1=10010)3
=x(1011)3
⇒C.I=10001331x−x
=10001331x−1000x
=1000331x
Difference of C.I and S.I=93
⇒1000331x−103x=93
⇒100031x=93
⇒x=3193×1000=3000Rs.
⇒ Sum =3000Rs.