Question

If the difference of the CI and the SI on a sum of money for two years is Rs 12.50 at the annual
interest rate of 5%, find the sum of money.
​

Answer 1

Ans Rs 30.48

Step-by-step explanation:

Let the sum of money = x

SI = (x ×5 ×2)÷100

= 0.1x

CI of 1st year

= ( x×(1+(5÷100))²)

=441x ÷ 400

441x/400 - x/10 = 12.50

41x/100 = 12.50

x=(12.50 ×100)/41

X=30.48