Question

The difference between compound interest and the simple interest on a certain sum at 10% per annum

for 3 years is Rs93. Find the sum​

Answer 1

Answer:

Step-by-step explanation:

Here, in this question, the difference is already given to us and we are required to find the principal amount.  The difference is given for three years. So, the formula will be,

Difference = P(R)³/100²

Now, putting the values into the equation, we will find that,

93 = P(10)³/(100)³

93 x 100³/10³ = P

93 × 1000000 / 1000 = P

93 × 1000 = P

93000 = P

P = Rs. 93000