Question

the difference between the simple and compound interest on a sum of money for 2 years at 12% per annum is ₹213.Find the sum​

Answer 1

Given :-

Difference between S.I. and C.I. = Rs 213

Time = 2 years

Rate = 12 %

To find :-

Principal = ?

Answer :-

Principal = Rs 14791.67

Refer to the attached image for step by step explanation.

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Know more

▪ C.I. = A - P

▪ Formula to find Amount if principal and Compound Interest are given.

➣ A = C.I. + P

▪Formula to find amount when principal, time and rate is given.

.➣$Amount = P[1+ \dfrac{r}{100}]^n$

NOTE ..

The positive sign changes to negative sign when the value depreciates.