Question

The difference between the compound interest and simple interest on a certain sum of money at 6.6% per annum for three years is ₹46. Find the sum

Answer 1

$p = 46 \: r = 6.6\% \: time = 3 \: year$
CI= 46{(1+6.6/100)^3-1}
=46{(53.3/100)^3-1}
=46{(151419.437/10000-1}
=46{141419.437/10000}
=650.54
SI=46×6.6×3/100
=9.108
difference=650.54-9.108
=641.432