Question

The difference between the compound interest and the simple interest for 2 years at 10% per annum is ₹50. Find the sum.

Answer 1

SOLUTION :-
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Let
sum is P.
difference between compound interest and simple interest over three years is given by

SI = p * 2 * 10/ 100 = x/5

CI = p[1+ 10/100]^2– p= 121p/100 -p
ci= 21p/100

Therefore,

21p/100 – p/5 = 50

(21p -20p) = 5000

[ p=5000] ans