Question

What is the sum of money on which the difference between the compound interest and the simple interest in 2years is Rs 15 at the interest rate of 5%p.a.?​

Answer 1

Step-by-step explanation:

• the difference between the compound interest and the simple interest in 2years is Rs 15

CI - SI = ₹15

P{(1+5/100)²-1} - 10P/100 = 15

P { 41/400} -10P/100 = 15

(41P - 40P)/400 = 15

P = ₹6000 ✅