Question

The difference between the interset for first and second year on a sum of money compound annually is ₹30 .lf the rate of interest is 5% what was the sum of money deposit

Answer 1

Answer:

Let the principal be Rs. P

Given : R=5%,T=24 years

C.I. for 2 years =P(1+

100

5

)

2

−P

S.I. for 2 years =

100

P×5×2

=

10

P

∵ Difference between C.I. and S.P. = Rs. 25

P(1+

100

5

)

2

−P−

10

P

=25

400

441P

−

10

11P

=25

400

441P−440P

=25

P=10,000

Hence, the principle should be Rs. 10,000

Answer 2

Answer:

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