Question

the difference between the compound interest and simple interest on a certain sum for 2 years at 7.5% per annum is rupees 360 find the sum

Answer 1

CI-SI=360
SI FOR 2 YEARS IF SUM IS X
SI=X*R*T/
=15X/
=3X/20
CI FOR FIRST YEAR IS EQUAL TO SI FOR FIRST YEAR
CI=75X/1000
=3X/40
AMOUNT=X+3X/40=43X/40
THIS THE PRINCIPAL OF SECOND YEAR
CI=43X*7.5/4000
=3225X/40000
CI-SI=3225X/40000-15X/100
=2775X/40000
2775X=40000*360
Now calculate