the difference between the simple interest and compound interest for a sum of money for 2 years at 5% per Annum is rs 15 .find the sum
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Step-by-step explanation:
Let the sum be Rs.x. then S.I.=(x*10*3 / 100) = 3x/10
C.I = [x(1+10/100)^3 -x] = 331x/1000
331x/1000 - 3x/10 = 46.50
=> 31x/1000 = 46.50
=> x = 1500
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Answer:
Step-by-step explanation:
Here are the formulas to the calculated difference in interests. Learn more about Simple and Compound Interest in more detail here. If the difference between compound and simple interest is of three years than, Difference = 3 x P(R)²/(100)² + P (R/100)³.
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