The difference between the compound interest and the simple interest on a certain sum for 3 years at 10% per annum is Rs.93. Find the sum.
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Answer:
The difference between the compound interest and the simple interest on a certain sum at 10% per annum for three years is RS 93. Find the sum.
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Solution:-____________________________________[tex]si = 3 \times 10 \times x \div 100 \ 3x \div 10 \ \ ci = x(1 + 10 \div 100) {}^{3} - x \ ci =1,331x \div
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The sum would be 3000 rupees.
Step-by-step explanation :
Let sum is P,
Since, the simple interest formula is,
If r = 10% = 0.1, t = 3,
Simple interest is,
Now, the compound interest formula,
So, the compound interest is,
According to the question,
0.331P-0.3P = 93
0.031P = 93
Hence, the sum would be 3000 rupees.
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