Question

the different between the compound interest and simple interest on a certain sum of money at 5% per annum for 3 years is ₹ 30.50 find the sum.​

Answer 1

Step-by-step explanation:

D = p(r/100)^n

=> ₹30.50 = p(5/100)^3

=>

$\sqrt[3]{30.50 }$

= p × 1/20.

=> 3.124 = p/20

=> 3.124 × 20 = p

therefore, p = 62.48.

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