Question

The difference between the compound interest and simple interest on a certain sum for 3 years at 7.5% per annum is ₹110.70. Find the sum?

Answer 1

Step-by-step explanation:

${pnr \ 100) - p(1 + {r \ 100}^{n} ) - 1 = 110.70$

P (3*7.5)/100 -P{ 1+(7.5/100)³}-1 = 110.70

0.225P - 0.00042188P = 110.70

0.22457812P = 110.70

P= 492.92rs