Question

the difference between the compound interest and simple interest on a certain sum of money at 20/3 per annul for three years is rs46. find the sum

Answer 1

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Answer 2

Answer:

The sum is rs.3382.352

Step-by-step explanation:

Let the principal be x

Time = 3 years

Rate of interest = $\frac{20}{3}\%$

Formula : $A=P(1+r)^t$

$A=x(1+\frac{20}{300})^3$

$A=1.2136x$

Compound interest = Amount - principal = 1.2136x- x=0.2136x

Formula : $SI = \frac{P \times R \times T }{100}$

$SI = \frac{x \times \frac{20}{3} \times 3 }{100}$

$SI = 0.2 x$

Now we are given that the difference between the compound interest and simple interest is Rs.46

So, $0.2136x-0.2x = 46$

$0.0136x = 46$

$x = \frac{46}{0.0136}$

$x = 3382.352$

Hence the sum is rs.3382.352