Question

The difference between compound interest(compounded annually) and simple interest on a certain sum of money at 15 % per annum for 2 years is rupees 45. find the sum.​

Answer 1

Answer:

The difference between compound interest (compound annually) and simple interest on a certain sum of money at 15% per annum for 2 years is rupees 45.

Let the sum be p

Step-by-step explanation:

SI = P T R /100=P*3*15/100=45 P/100=9 P/20

CI = A-P=P (1+R/100)^n-P=P (1+15/100)^3-P

=P (115/100)^3-P

=P (23/20)^3-P

So by question CI-SI = 283.50

or P ((23/20)^3-1)-9 P/20=P ((23/20)^3-1-9/20)=283.50

or P= 283.50/((23/20)^3-29/20)

or P = 4000

hope you clear