Question

the difference between the compound interest compounded annually and simple interest on the certain sum at rate of 6% per annum for 2 years is 54 find the sum​

Answer 1

Answer:

P=-900

Step-by-step explanation:

FIRST OF ALL, IT IS A GOOD QUESTION

NOW,

PARAMETERS GIVEN TO US,

COMPOUND INTEREST - SIMPLE INTEREST=54

PRINCIPAL=P

RATE%=6%

TIME=2 YEARS

NOW,

COMPOUND INTEREST-SIMPLE INTEREST=54

{[P(1+R/100]-P}-PRT/100=54

{[P(1+6/100]-P}-P*6*2/100=54

{[P(106/100)]-P}-P*3/25=54

{106P-100P/100}-3P/25=54

6P/100-3P/25=54

6P-12P/100=54

-6P/100=54

-6P=54*100

-P=54*100/6

-P=900

P=-900

I HOPE YOU UNDERSTOOD