Question

the difference between the compound interest for the simple interest on a certain sum Sum for 2 years at 5% per annum is 60 rupees. find the sum.​

Answer 1

Answer:

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Step-by-step explanation:

• IN THE FIRST YEAR

P = Rupees 60

R = 5% / annum

T = 1 years

SI = P×R×T/100

= Rs. ( 60 × 5 × 1 / 100)

= Rs. ( 300/100)

= Rs. 3

Now, Amount = P + SI

Amount = Rs. ( 60+3)

Amount = Rs. 63

• IN THE SECOND YEAR

P= Rs. 63

R= 5%

T= 1 year

SI = P×R×T/100

= Rs. ( 63 × 5 × 1 / 100)

= Rs. 315/100

= Rs. 3.15

• Now, Compound Interest = P + Si

= Rs. 66.15 ( ans )

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