Question

the compound intrest and the simple intrest on a certain sum of money for a certain period of time and at the same rate of interest are the same.Find the time​

Answer 1

Answer:

The simple interest and the compound interest on a sum of money at a certain rate for 2 year is Rs.1,260 and Rs.1.323 respectively.

Find the sum and the rate.

Medium

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Solution

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Simple Interest, S.I. = Rs. 1260 = 100PR×2 =  50PR          -(i)

Compound Interest, C.I. = Amount(A) - Principle(P)

=P(1+100R)2 - P = PR(R/10000+1/50)=Rs.1323         -(ii)

Dividing (ii) by (I),

200R+1 = 12601323

step-by-step explanation:

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⇒Rate,R=10%p.a.

Now, 100PRT=1260

⇒ 100P×10×2=1260

⇒ Principal or Sum , P = Rs.6,300