Question

On what sum difference between compound interest and simple interest for two years at
7% p.a. interest is Rs. 29.4

Answer 1

Step-by-step explanation:

S.I=

100

PRT

=

100

P(5)(2)

=0.1P

C.I=P[(1+

100

R

n

)−1]=P(1.05

2

−1)=0.1025P

C.I−S.I=0.0025P=15

⇒P=6000Rs