Question

The difference between compound interest and simple interest at 5% per annum in 2 years is rs 30. Find the sum

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Answer 1

Answer:

Sum = 12,000

Step-by-step explanation:

Given:

R = 5%

T = 2 years

CI - SI = Rs 30

To find:  P

Solution:

SI = P x R x T/100

    = P x 5 x 2/100

    = P/10

And

A = P(1 + 5/100)²

    = P(21/20)²

    = 441 P/400

CI = A - P

    = 441 P/400 - p

    = 441 P - 400 P/400

    = 41 P/400

CI - SI = Rs 30

           = 41 P/400 - p/100 = 30

           = 41 P - 40 P = 30

           = P/100 = 30

           = P = 400 x 30

           = Rs 12,000