Question

the difference between the simple interest and compound interest for a certain sum of money for 2 years at 10% per annum is rupees 50 find the sum​

Answer 1

Answer:

Step-by-step explanation:

Let P be the sum.

SI = P * 2 * 10/100

SI = 0.2 P

CI = P * (1 + 10/100)^2 - P

CI = P * 1.1^2 - P

CI = 1.21 P - P

CI = 0.21 P

Given,

CI - SI = 50

0.21 P - 0.2 P = 50

0.01 P = 50

P = 50/0.01

P = 5000

So, the sum is Rs. 5,000/-.