Question

The difference between ci and si on a sum of money lent for 2 years at 10% is rs.40 what was the amount?

Answer 1

The amount (P) is Rs 4000/-

Answer 2

The difference between ci and si on a sum of money lent for 2 years at 10% is rs.40 then the principal is Rs 4000

Solution:

The formula for difference between compound and simple interest for two years is:

$Difference = p(\frac{r}{100})^2$

Where p = principal amount, r = rate of interest

Given,

Difference = 10

r = 10 %

Then,

$40 = p \times (\frac{10}{100})^2 \\\\\ 40 = p \times \frac{1}{100} \\\\p = 4000$

Thus principal amount is Rs 4000

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