the simple interest of a sum od Rs.2000 at the rate of 20% per annum
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Step-by-step explanation:
Let the sum be Rs.100
Computation of compound interest:
Prinicpal =Rs.100
R=10% per annum and n=2 years.
Amount=Rs.⎣⎢⎡100×(1+10010)2⎦⎥⎤
=Rs.⎣⎢⎡100×(211)2⎦⎥⎤=Rs.121
Computation of simple interest:
Prinicpal =Rs.100
R=10% and Time =2 years.
∴S.I.=Rs.(100100×10×2)=Rs.20
Thus, difference in C.I. and S.I.=Rs.(21−20)=Re.1
Now, if difference between C.I and S.I. is Re.1, Then Sum =Rs.100
If difference between C.I. and S.I. is Rs.500, Then Sum =Rs.(100×500)=Rs.50000
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