Question

the difference between simple interest & compound interest on a certain sum for 3 years at 6% p.a is ₹100 find the sum ?

Answer 1

Answer:

let A¹ be amount of CI

let A² be amount of SI

A¹-A²=100

P(1+I)n - p(1+ni) =100

p(1+0.06) ³ - p(1+(3) (0.06) =100

p(1.06) ³- p(1.18) =100

p(1.191-1.18) =100

p(0.011) =100

p=100/0.011

p=9090