Question

on what sum of money does the difference between the simple interest and compound interest in 2 years at 5 percent per annum is RS. 15 ?
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Answer 1

Answer:

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Answer 2

S.I for 2 years = P*R*2/100

C.I for 2 years = P*[(1 + r/100)^2 - 1] = P(1 + 5/100)^2) - P = P(21/20)^2 - P

C.I - S.I for 2 years = 15

C.I - S.I = 441P/400 - P - 10P/100 = (441P - 400P - 40P)/400

15 = P/400

P= 400*15 = 6000 Rs.

Hence principal(sum of money) = Rs.6000

Hope this helps