Question

on what sum of money will the difference between the compound interest and the simple interest for 3 years will be equal to rs 930 ,if the rate of interest changed for both is 10%p.a.?

Answer 1

Answer:

30,000

Step-by-step explanation:

C.I - S.I = 930

p[(1+0.1)^3 -1]-p*0.1*3=930

p* 0.331-0.3p= 930

p* 0.031=930

p=930÷0.031

p=30,000