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ICSE Class 8 Answered

The difference between the compound interest and simple intrest on a cetcert sum for 2years at 7.5% per annum is rs360. Find the sum
Asked by singhrupesh.kr19 | 21 Dec, 2018, 11:26: AM
answered-by-expert Expert Answer
Let Rs. P be the sum invested.
 
Compound interest = begin mathsize 16px style straight P open parentheses 1 plus straight r over 100 close parentheses to the power of straight n minus straight P equals straight P open parentheses 1 plus fraction numerator 7.5 over denominator 100 end fraction close parentheses squared minus straight P equals 0.155625 straight P end style
Simple interest = Pnr/100 = P × 2 × 7.5/100 = 0.15P
According to the question, 
0.155625P - 0.15P = 360
Solving this we get P = 64,000
Answered by Sneha shidid | 24 Dec, 2018, 09:26: AM

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