the difference the difference between the simple and compound interest on a certain sum for 3 years at 5% is 22875 the compound interest on the sum for 2 years at 5% interest is
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Answer:
Let principle amount =x
Simple interest =
100
P×R×T
P=Principle=x
R=Rate=10% Per annum
T=Time =3 years
⇒S.I=
100
x×10×3
=
10
3x
Compound interest=Amount − Principle
Amount =P(1+
100
R
)
T
=x(1=
100
10
)
3
=x(
10
11
)
3
⇒C.I=
1000
1331x
−x
=
1000
1331x−1000x
=
1000
331x
Difference of C.I and S.I=93
⇒
1000
331x
−
10
3x
=93
⇒
1000
31x
=93
⇒x=
31
93×1000
=3000Rs.
⇒ Sum =3000Rs.
Step-by-step explanation:
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