on what sum of money the interest amounts to 775 for 3 yr at the rate of 5% per annum
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Answered by
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Step-by-step explanation:
For ,
N=2years
R=5 %
We have S.I.=
100
PNR
=
100
P×2×5
=
100
10P
=0.1P
And on interest being compounded for 2 years and R=5 %, Amount=P(1+
100
R
)
N
=P(1+
100
5
)
2
=P×(1.05
2
)=1.1025P
So, C.I.=A−P=1.1025P−P=0.1025P
Given, C.I.−S.I=Rs50
=>0.1025P−0.1P=Rs50
=>0.0025P=Rs50
=>P=Rs20,000
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