The difference between the compound interest and the simple interest on a certain sum for 2 years at the rate of 20% per annum is Rs 500 . Find the sum?
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If the difference between compound and simple interest is of two years than,
Difference = P(R)²/(100)²
Where P = principal amount, R = rate of interest
If the difference between compound and simple interest is of three years than,
Difference = 3 x P(R)²/(100)² + P (R/100)³.
Here also, P = principal amount, R = rate of interest
Difference = P(R)²/(100)²
Where P = principal amount, R = rate of interest
If the difference between compound and simple interest is of three years than,
Difference = 3 x P(R)²/(100)² + P (R/100)³.
Here also, P = principal amount, R = rate of interest
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