Question

the difference between the compound interest compounded
annually and the simple interest on a certain sum for 2 years at 15% is Rs 180 find the sum

Answer 1

Dear Student!

 

 SI = P * 6 * 2 / 100

SI = 3P/25

CI = P( 1 + r /100)n - 1

CI = P ( 1 + 6/100)2 - 1

CI = P( 53/50)2 - 1

CI = P(2809 / 2500 - 2500/2500)

CI = P( 309 / 2500

CI = 309P / 2500

CI - SI = 90

309P / 2500 - 3P/25

309P / 2500 - 300P / 2500 = 90

9P/ 2500 = 90

P = (90 * 2500) / 9

P = 25000

Answer: Principal is Rs 25000

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