The difference between compound interest and simple interest in 3 years at 10% Pa reckoned yearly is Rs 18.60. Find the sum and the compound interest.
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Answer:
C.I. -S.I. = 18.60
P(I+R/100)³- P -P×R×T/100= 18.60
P{ (1-10/100)³-1-10×3/100 } = 18.60
P { (1-1/10)³ -1 -3/10} = 18.60
P [(11/10)³-1-3/10}= 18.60
P(1331/1000 -1-3/10) = 18.60
- TAKING LCM OF BRACKET
P(1331-1000-300)/1000 = 18.60
P(31/1000)= 18.60
P= 18.60×1000/31
P=600
AND
- COMPOUND INTEREST
C.I.= P(1+R/100)³-P
C.I. = 600(1+10/100)³-600
= 600(1+1/10)³-600
= 600(11/10)³-600
= 600(1331/1000)-600
= 6×133.1 -600
= 798.6-600
C.I. = 198.6
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