The difference between the compound
interest and simple interest on a certain
sum at 15% per annum for 2 years is 45.
Find the sum
Answers
Answered by
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Step-by-step explanation:
given
difference =45, r = 15%t =2years
SI=P *R*T/100
SI=P*15*2/100
SI=3/10*p
CI=P[(1+R/100)^n-1]
CI= [(1+15/100)^2-1]
CI=[(20+3/20)^2-1
CI=[(23/20)^2-1]
CI=[ (529/400)-1]
CI=(529-400/400)
CI=129
Difference=45
CI-SI=45
129-3/10*p =45
1290-3p/10=45
1287p/10=45
p=143/50
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