If the difference between simple interest and compound interest on a certain sum at the rate of 10% per annum for a period of 3 years compounded yearly is Rs 31. Then the sum is:
Answers
Answered by
4
Answer:
1000.
Step-by-step explanation:
Let P be the principal.
Value including interest after 36 months at simple interest:
P+ (P X 3x 10/100)
P(1+ 30/100),= P X 130/100. (1)
Compound interest:
=P X 110/100 X 110/100 X 110/100,
=P X 1331/1000. (2)
The difference in interest is 31.
hence (2) - (1) = 31.
i.e. P X 1331/1000 - P X 1300/1000 = 31
P X 31/1000 = 31.
P = 1000.
Answered by
1
Answer:
compound interest = Amount - principle
C.I = P (1+ R/100)^n - P
C.I = P(1+10/100)^3 -P
C.I = P(1331/1000) - P
C.I = (P(1331) -P (1000))/ 1000
C.I = 331(P)/1000
S.I = PRT/100
S.I = (P×10×30)/100
S.I = 30(P)/100
Given C.I - S.I = 31
331(P)/1000 - 30(P)/100 = 31
33100 (P) - 30000(P) = 3100000
P = 31000/31
P= 1000
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