Question

find the difference between the compound interest and the simple interest on certain sum for 2 years 5% per annum is 60 rupees . find the sum. Pls give proper answer

Answer 1

Let the sum be P = Rs. 100.

time T = 2 years, rate of interest R = 5% per annum

Simple interest =  PRT/100= 100×5×2/100=

Rs 10

Compound amount= P( 1+R/ 100)^T

= 100×(1+5/100)²

= 110.25

Therefore the compound interest = compound amount - principal

= 110.25 - 100

= 10.25

the difference between the compound interest and simple interest

= 10.25 - 10.00

= 0.25

if the difference between the CI and SI is Rs. 0.25 the principal = Rs. 100

if the difference between the CI and SI is Rs. 60 the principal = (100/0.25)×60

= 24000

Thus The Sum Is Rs. 25000.

hope this helps you.

Answer 2

let the sum be P = Rs. 100.

time T = 2 years, rate of interest R = 6% per annum

simple interest =  P*R*T/100= 100*6*2/100=

Rs 12

compound amount= P( 1+R/ 100)^T

= 100*(1+6/100) ^2

= 112.36

therefore the compound interest = compound amount - principal

=112.36-100=12.36/-

the difference between the compound interest and simple interest = 12.36-12.00 = 0.36/-

if the difference between the CI and SI is Rs. 0.36 the principal = Rs. 100

if the difference between the CI and SI is Rs. 90 the principal = 100/0.36*90

= 25000

thus the sum is Rs. 25000.

hope this helps you.