Question

Q11) The difference between the compound interest and the simple interest on a certain sum for 2 year
at 5% per annum is Rs 60. Find the sum.
please tell step by step ​

Answer 1

Answer:

time T = 2 years, rate of interest R= 5% per annum

Simple interest = PRT/100= 100x5x2/100D

Rs 10

Compound amount= P( 1+R/100)^T

= 100x(1+5/100)? =

= 110.25

Therefore the compound interest = compound amount - principal

= 110.25 - 100 =

= 10.25

the difference between the compound interest and simple interest

= 10.25 - 10.00

= 0.25 =

if the difference between the Cl and Sl is Rs. 0.25 the principal = Rs. 100

if the difference between the Cl and SI is Rs. 60 the principal = (100/0.25)*60

= 24000 =