Question

the difference between simple interest and compound interest calculated annually ona certain Ammount at the rate of interest 20% per annum for 2years is 248.20 what is the amount
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Answer 1

Answer:

6205

c.p=pr+pr^2

c.p-s.p=248.20

2pr+pr^2-2pr=248.20

pr^2=248.20

p(20/100)(20/100)=248.20

p= 6205

Answer 2

Answer:

The amount will be Rs$.6205.$

Step-by-step explanation:

Given: Rate of interest at $20$%per annum.

           The time period is $2$ years

            The difference is $248.20$

To find The Amount

Solution:

The difference between the simple interest and compound interest on a certain sum of money 'P' for $2$ years at r% per annum is given by :

$(CI-SI)_{2=\frac{Pr^{2} }{100^{2} }$

Where:

CI = Compound interest

SI = Simple interest

P = Amount

R = interest rate

$248.20 =\frac{ P(20)^{2}}{(100)^{2} }$

$248.2$ × $10000$ $= P$ × $400$

$P = 6205$

Therefore, the correct answer will be $Rs.6205$

PROJECT CODE: #SPJ2

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