Question

Find the time when principle = rupees 2325 , rate of interest = 20/3 % per annum, Interest = rupees 75?

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Answer 1

Answer:

This is how we can solve it

Step-by-step explanation:

The difference between the simple interset and compound interest on a certain sum of money 'P' for 2 years at r% per annum is given by :

or (CI - SI)2years = pr^2/100^2

Using the above formula for a sum of money 'P' invested for two years at 4% p.a., given that the difference between CI&SI is Rs.20

Therefore, 20 = p(4)^2/100^2

or 20 = p(4*4)/100*100

or 5*25*100 = p

or p = Rs 12500