Question

the difference between Simple and Compound Interest for a certain sum of money for 3 years at 5% per anum is rupees 61. Find the principal.




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Answer 1

Answer:

The difference between the compound interest and simple interest on a certain sum of money at 10% per annum for 2 years is Rs.500 .

Let the sum be Rs.100 Computation of compound interest:Prinicpal = Rs.100 R = 10% per annum and n = 2 years. Amount = Rs. [100 × (1 + 10100 )^2 ] = Rs.

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