The difference between simple interest and compound interest on a certain sum of money for 2 years at 4% per annum is Rs 20.Find the sum
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Solution:-
Let the sum be Rs. 'x'
Compound interest = {x (1 + r/100)ⁿ - x}
= {x (1 + 4/100)² - x]
= {x(104/100 × 104/100) - x}
= 676/625x - x
Compound inte/rest = 51x/625 Rs.
Simple interest = P*R*T/100
= x*4*2/100
Simple interest = 2x/25 Rs.
Now, according to the question.
51x/625 - 2x/25 = 20
x/625 = 20
x = 625*20
x = 12500 Rs.
Therefore the sum is Rs. 12500
Answer .
Let the sum be Rs. 'x'
Compound interest = {x (1 + r/100)ⁿ - x}
= {x (1 + 4/100)² - x]
= {x(104/100 × 104/100) - x}
= 676/625x - x
Compound inte/rest = 51x/625 Rs.
Simple interest = P*R*T/100
= x*4*2/100
Simple interest = 2x/25 Rs.
Now, according to the question.
51x/625 - 2x/25 = 20
x/625 = 20
x = 625*20
x = 12500 Rs.
Therefore the sum is Rs. 12500
Answer .
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