Question

If the difference between the simple interest and compound interest on a certain sum of money at 20% per annum
for 3 years is $48, then the sum must be:​

Answer 1

Answer:

Rs.1200

Step-by-step explanation:

Let the principal be x

rate = 20%=0.20

Time = 2 years

Compound interest = Amount - Interest = 1.44x-x = 0.44x

 the difference between simple interest and compound interest on a certain sum of money at 20% per annum for 2 years is 48.

So,

Hence the principal is Rs.1200

I hope this helped :)