Question

the difference between the compound interest for 1year compound ed half-yearly and the simple interest for 1 year on a certain sum of money at 10% per annum is 360 rupees find the sum




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Answer 1

Answer:

144000

Step-by-step explanation:

Let principle be x

Compound interest = x(1.05)^2= x1.1025 - x= x(1.1025-1)= x(0.1025)

Simple interest = x(10/100)(1)=0.1x

According to given conditions,

360= 0.1025x-0.1x

360=0.025x

Therefore,

x=360/0.025

x=144000