Question

the difference between simple and compound interest on a certain sum for 2 years at 5% per annum compounded annually is rupees 75 find the sum​

Answer 1

Step-by-step explanation:

compound interest - simple interest=360 rupees

T=2years

R=7.5%P.a

(i)C.I=P[1+100R]T

(ii)S.I=100P×R×T

C.I−I.S=P[1+100R]T−100R×T

360=P[1+1007.5]2−1007.5×2

360=P[44.3]2−10015

360=P[1.155−10015]

360=P[1.155−0.15]

36P(1)

∴P=360Rupees