Question

Q. The difference between the compound interest and
simple interest on a certain sum at 10% per annum for 2 years
is Rs. 631. Find the sum.​

Answer 1

Answer:

₹63100

Step-by-step explanation:

Simple int=P*2*10/100=0.2P

Comp . int=A-P=P(1+r/100)^2-P

=P*(1.1)^2-P

=P*1.21-P

Difference=P*1.21-P-0.2P=631

So P(1.21-1-0.2)=631

P=631/(1.21-1-0.2)

=631/(0.01)

= ₹ 63100