Question

the difference between compound interest and simple interest on a certain sum of money for 2 year at 5 %per annum is Rs.2.50 find the sum

Answer 1

Answer:

Sum = Rs 1000

Step-by-step explanation:

difference of Rs 2.5 is basically difference on interest on 1st year interest

2.5 = (ist year interest ) * 5 /100

1st year interest = 50

1st year interest = P * 5 /100

50 = 5P/100

P = 1000