Question

The difference between C. I and S. I for 2 years at 10% per annum is rs. 50. Find the sum

Answer 1

Answer:

Let P be the sum.

SI = P * 2 * 10/100

SI = 0.2 P

CI = P * (1 + 10/100)^2 - P

CI = P * 1.1^2 - P

CI = 1.21 P - P

CI = 0.21 P

Given,

CI - SI = 50

0.21 P - 0.2 P = 50

0.01 P = 50

P = 50/0.01

P = 5000

So, the sum is Rs. 5,000/-.

Step-by-step explanation:

Answer 2

Let P be the sum.

SI = P * 2 * 10/100

SI = 0.2 P

CI = P * (1 + 10/100)^2 - P

CI = P * 1.1^2 - P

CI = 1.21 P - P

CI = 0.21 P

Given,

CI - SI = 50

0.21 P - 0.2 P = 50

0.01 P = 50

P = 50/0.01

P = 5000

So, the sum is Rs. 5,000/-.

OR

A = P(1+r/100)^n

CI = A - P = P(1+r/100)^n - P.

SI = Pnr/100

[ Here, P = sum, r = rate of interest =10% , n = no. of years = 2, A = Sum + Interest, CI = Compound Interest and SI = Simple Interest ]

As per questions, CI - SI = 50

Or, [P(1+r/100)^n - P] - Pnr/100

Or, P[(1+10/100)^2 - 1 - 2*10/100] = 50

Or, P * 1/100 = 50

Or, P = 5000

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