Question

The difference between compound interest and simple interest on a certain sum for
3 years at 5% per annum is 27.45. Find the sum.​

Answer 1

Answer:

3600

Step-by-step explanation:

The difference between SI and CI for 3years is given by the formula:

D= PR²(300+R)/(100)³

27.45= P*25(300+5)/1000000

P= 27450000/25*305

P= 27450000/7625

P= 3600