The difference in simple interest and compound interest on a certain sum of money at 623 % per annum for 3 years in Rs. 46. Determine the sum.
Answers
Answer:
The sum is rs.3382.352
Step-by-step explanation:
Let the principal be x
Time = 3 years
Rate of interest = \frac{20}{3}\%
3
20
%
Formula : A=P(1+r)^tA=P(1+r)
t
A=x(1+\frac{20}{300})^3A=x(1+
300
20
)
3
A=1.2136xA=1.2136x
Compound interest = Amount - principal = 1.2136x- x=0.2136x
Formula : SI = \frac{P \times R \times T }{100}SI=
100
P×R×T
SI = \frac{x \times \frac{20}{3} \times 3 }{100}SI=
100
x×
3
20
×3
SI = 0.2 xSI=0.2x
Now we are given that the difference between the compound interest and simple interest is Rs.46
So, 0.2136x-0.2x = 460.2136x−0.2x=46
0.0136x = 460.0136x=46
x = \frac{46}{0.0136}x=
0.0136
46
x = 3382.352x=3382.352
Hence the sum is rs.3382.352
Step-by-step explanation:
Given,
sum of money =623%
Annum=3 years
cost = 46rs
sum =Summation of compound × Annum
------------------------------------------------ ×100
Cost
sum=623×3
----------. ×100
46
sum = 1800
Hope it helps you thanks for this opportunity ☺️