If the discount on Rs. 1700.40 P at 4% be Rs. 140.40 P when is the sum due
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Given, rate r=5%, n=2 years, compound interest = Rs. 1100
Compound interest = Amount− Principal
Therefore, 1100=P(1+
100
5
)
2
−P
⇒1100=P(1.05)
2
−P
⇒1100=1.1025P−P
⇒P=
0.05
1100
⇒P= Rs. 22000
Simple interest =
100
PRT
=
100
22000×5×2
Simple interest = Rs. 2200
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