the difference between compound interest and simple interest for a certain sum in three years at 5% per annum is rupees 61 find the sum
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compound interest for 2 years = 5+5+5*5/100
=10.25%
compound interest for 3 years = 10.25+5+10.25*5/100
=15.75%
simple interest for 3 years=15%
15.75-15%=61
0.75%=61 rs
100%=?
so sum insured=100×61/0.75=610000/75=8133
=10.25%
compound interest for 3 years = 10.25+5+10.25*5/100
=15.75%
simple interest for 3 years=15%
15.75-15%=61
0.75%=61 rs
100%=?
so sum insured=100×61/0.75=610000/75=8133
dhairya84:
thankyou
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