Question

The difference between the compound interest and the simple interest on a certain sum of money 16% per annum compounded annually for 2 years is Rs 600. Find sum.
Plz answer ​

Answer 1

Answer:

Step-by-step explanation:

C.I.−S.I.=18

(P(1+  

100

R

​  

)  

n

−P)−(  

100

P×R×n

​  

)=18

Given:-

P=?

R=6%

n=2 years

P(1+  

100

6

​  

)  

2

−P−  

100

P×6×2

​  

=18

P(  

100

106

​  

)  

2

−P−  

25

3P

​  

=18

1.1236P−P−0.12P=18

0.0036P=18

P=  

0.0036

18

​  

=5000