Question

The simple interest and compound interest on a certain sum of money

for 2 years are 2000 and 2050 respectively. Find the sum of money

and the rate of interest.​
(no unnecessary answers)

Answer 1

Answer:

answer is 6,300

Step-by-step explanation:

Simple Interest, S.I. = Rs. 1260 =  

100

PR×2

​  

 =    

50

PR

​  

          -(i)

Compound Interest, C.I. = Amount(A) - Principle(P)

=P(1+  

100

R

​  

)  

2

 - P = PR(R/10000+1/50)=Rs.1323         -(ii)

Dividing (ii) by (I),

200

R

​  

+1 =  

1260

1323

​  

 

⇒Rate,R=10%p.a.

Now,  

100

PRT

​  

=1260

⇒  

100

P×10×2

​  

=1260

⇒ Principal or Sum , P = Rs.6,300