Question

The difference between the compound interest and
the simple interest on a certain sum of money at
10% p.a. for 2 years is 500. Find the sum.​

Answer 1

Answer:

CI-SI = P*(R/100)2 FOR 2 YEARS

SOLVING WR GET P=50000

Answer 2

Step-by-step explanation:

SIMPLE INTEREST

PRINCIPLE=500

RATE=10 PER ANNUM

TIME =2YEARS

SIMPLE INTEREST=P×R×T/100

500×10×2/100

100

SIMPLE INTEREST=100

AMOUNT=500+100=600

COMPOUND INTEREST=P×(1+R/100)n

500(100+10/100)²

500(110/100)²

500×110/100×110/100

5×11×11

605

AMOUNT=605-500

105

DIFFERENCE =600-105

=495(ANSWER)