Question

The difference between the compound interest and the simple interest on a certain sum at 6percent per annum for two years is RS 90

Answer 1

Answer:

25000 Rs

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Step-by-step explanation:

Let say Principle = Rs P

Interest rate = 6 % per annum

Simple Interest for 2 Year  = P*6*2/100 = 3P/25

compound Interest for 1st year = P*6*1/100 = 3P/50

Principle Amount after 1 year = P + 3P/50 = 53P/50

compound Interest for 2nd Year = (53P/50)*6*1/100 = 159P/2500

compound Interest for both Years = 3P/50 + 159P/2500

= (150 P + 159 P )/2500

= 309P/2500

309P/2500 - 3P/25 = 90

309 P - 300P = 90 * 2500

9P = 90* 2500

P = 25000