Question

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

Answer 1

Step-by-step explanation:

T=2

R=5%p.a.

P=?( be x)

SI=>x×2×5/100

=x/10

CI(amount)=x×105%×105%

= x×441/400

CI=41/400 x

CI-SI=25

x (41/400-1/10)=25

x (41-40/400)=25

x×1/400=25

x=25×400

x=10000