Question

On what sum of money will the C.I for 2 years at 6% p.a be Rs.865.20

On what sum of money will the C.I for 2 years at 6% p.a be Rs.865.20
4 points

Answer 1

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Maths

Comparing Quantities

Compound Interest

On what sum of money will t...

MATHS

On what sum of money will the difference between the compound interest and simple interest for 2 years be equal to Rs. 25 if the rate of interest charged for both is 5% p.a?

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VIDEO EXPLANATION

ANSWER

Let the principal be Rs. P

Given : R=5%,T=24 years

C.I. for 2 years =P(1+

100

5

)

2

−P

S.I. for 2 years =

100

P×5×2

=

10

P

∵ Difference between C.I. and S.P. = Rs. 25

P(1+

100

5

)

2

−P−

10

P

=25

400

441P

−

10

11P

=25

400

441P−440P

=25

P=10,000

Hence, the principle should be Rs. 10,000

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