Question

On what sum of money will the difference between the simple interest and compound interest for 2 years at 10% per annum be equal to ₹50?

Answer 1

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

Answer 2

Answer:

Answer is 20,000 Answer