Question

the difference between the compound interest and simple interest on a certain sum of money at 6,2 by 3% per annum for 3 years is rupees 46 find the sum

Answer 1

Answer:

Given,

SI = PRT / 100

SI = P × $\frac{20}{3}$ ×3 / 1 00

SI = $\frac{P}{5}$

CI = P (1+ $\frac{r}{100} ) n-1$

CI= P [$(\frac{20}{3} ) /(100)]3-1$

CI = P ($\frac{16}{15} ) 3-1$

CI = P [$\frac{4096}{3375}$-$\frac{3375}{3375}$]

CI = $\frac{721P}{3375}$ ]

CI - SI = 46

=> 721 P - $\frac{675P}{3375}$ = 46

=>  $\frac{46 P}{3375} =46$

=> P= 46 ×$\frac{3375}{46}$

=> P = 3375

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@GauravSaxena01