Question

The difference between the simple and compound interest for a certain sum of money for 3 years
at 5% per annum is 61.00. Find the sum.​

Answer 1

Answer:

let p be the sum. ci=p(1+.05)^3=1.16p

si=p×.05×3=.15p

Step-by-step explanation:

ci-si=1.01p=61 So p =61

1

Answer 2

$\huge\fbox{\underline\orange{Answer}}$

• Let the sum be ₹ 100

•°• S.I. on ₹ 100 for 3 yrs. @ 5% p.a. $= ₹ \frac{100 \times 3 \times 5}{100} = ₹15$

Amount at C.I. on ₹ 100 for 3 years @ 5% p.a. $= ₹ 100(1 + \frac{5}{100})^{3}$

:•⟹ $100 \times \frac{105}{100} \times \frac{105}{100}\times \frac{105}{100} = ₹\frac{9261}{80}$

•°• C.I. on ₹ 100 for ₹ 3 yrs. $= ₹( \frac{9261}{80} - 100) = ₹ \frac{1261}{80}$

Difference of C.I. and S.I. $= ₹ \frac{1261}{80} - ₹15 = ₹ \frac{1261 - 1200}{80} = ₹ \frac{61}{80}$

If the difference is $₹ \frac{61}{80} , sum = ₹ 100$

•°• If the difference is ₹ 61 , sum $= 100 \times \frac{80}{61} \times 61 = ₹ 8000.$

⠀⠀⠀⠀ ⠀⠀$\fbox\green{₹8000~Ans.}$