Question

On what sum of money does the difference between the simple interest and compound interest in 2 years at 5% per annum is 15?​

Answer 1

Let sum is x. Then,

C. I. = [x{(1+5/100)²-1}

= 1025x/10000

= 41x/400;

S. I. = (x*5*2)/100

= x/10

ATQ

41x/400 -x/10 = 15

⇒ x = 6000.

★ The sum of money is Rs. 6000.