The difference between the compound interest, compounded annually and the simple interest on a certain sum for 2 years at 6% per annum is $ 18. Find the sum.
Answers
Answer:
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Step-by-step explanation:
=> Let the sum be $ 100. Then,
=> SI = $ (100 × 6 × 2/100) = $ 12
=> and compound interest = $ {100 × (1 + 6/100)² - 100}
=> $ {(100 × 53/50 × 53/50) - 100} = $ (2809/25 - 100) = $ 309/25
=> Therefore, (CI) - (SI) = $ (309/25 – 100) = $ 9/25
=> If the difference between the CI and SI is $ 9/25, then the sum = $ 100.
=> If the difference between the CI and SI is $ 18, then the sum = $ (100 × 25/9 × 18 )
=> $ 5000.
=> Hence, the required sum is $ 5000.
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Answer:
Let the sum be P = Rs. 100.
time T = 2 years, rate of interest R = 6% per annum
simple interest = PRT/100= 100*6*2/100=
Rs 12
compound amount= P( 1+R/ 100)^T
= 100*(1+6/100) ^2
= 112.36
therefore the compound interest = compound amount - principal
=112.36-100=12.36/-
the difference between the compound interest and simple interest = 12.36-12.00 = 0.36/-
if the difference between the CI and SI is Rs. 0.36 the principal = Rs. 100
if the difference between the CI and SI is Rs. 90 the principal = 100/0.36*90
= 25000
thus the sum is Rs. 25000
Step-by-step explanation: