Find the principal.if the difference between compound interest and simple interest in two years is RS 37.80 rate of interest for first year and second year are 7% and 6%respectively
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Suppose I had invested₹100 st interest of 7%& 6% per annum for 2 successive years, I would have got 107× 106/100=113.42. Hence the compound interest comes to 113.42–100= 13.42.
The simple interest comes to ₹7+₹6 = ₹13
Diff betwee CI & SI = 13.42–13= 0.42
This means, if the diff between SI& CI = 42 paisa, the the Principal is ₹100
Therefore, when the diff between C I & SI = ₹37.80 = 3780 paisa ,then the Principal is 100×(3780/42)=100×90 Rs9000
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