Question

the difference between compound interest and simple interest on a certain sum at 3% per annum for 3 years is Rs.27.27. What is the sum?

Answer 1

Let the sum = P

time , t = 3 years

rate, r = 3%

compound interest = CI

Simple interest = SI
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$\textbf{SI} = \frac{Ptr}{100} = \frac{P \times 3 \times 3}{100} = \textbf{0.09P}$

$\text{CI}= P {(1 + \frac{r}{100}) }^{t} - P \\ \\ \text{CI} = P{(1 + \frac{3}{100} )}^{t} - P \\ \\ \text{CI}= 1.092727P - P \\ \\ \textbf{CI = 0.092727P}$
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Given that CI - SI = ₹27.27

=> 0.092727P - 0.09P = 27.27

=> 0.002727P = 27.27

=> P = 27.27 / 0.002727

=> P = ₹10000

$\textbf{The sum is Rs. 10000.}$

Answer 2

here is your answer!!!!!

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