Question

Q10.The difference in simple interest and compound interest on a certain sum of money in 3 years at 20 % p.a. is Rs. 640. The sum is?​ help pls anyone

Answer 1

Step-by-step explanation:

This is the step by step Explaination to fund the sum

Answer 2

Answer:

Required sum of money is 5000 rupees.

Step-by-step explanation:

Given,

Time $= 3 \: years$

and rate of interest $= 20\%$

and difference between compound interest and simple interest $= 640 \: rupees$

We know by simple interest rule,

Simple interest

$= \frac{prt}{100}$

Where p is principal,r is rate of interest and t is time.

So, simple interest

$= \frac{p \times 20 \times 3}{100} \\ = \frac{3p}{5}$

Again by Compound interest rule,

Compound interest =

$p {(1 + \frac{r}{100} )}^{t} - p \\ = p {(1 + \frac{20}{100} )}^{3} - p \\ = p { (\frac{120}{100} )}^{3} - p \\ = \frac{1728000p}{1000000} - p \\ = \frac{728000p}{1000000} \\ = \frac{728p}{1000}$

According to question,

$\frac{728p}{1000} - \frac{3p}{5} = 640 \\ \frac{728p - 600p}{1000} = 640 \\ \frac{128p}{1000} = 640 \\ p = 5000$

Know more about Compound interest,

1) https://brainly.in/question/1950647

2)https://brainly.in/question/11735147

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