ICSE Class 8 Answered
The difference between compound interest and simple interest on a certain sum for 3years at5% per annum is 80.Find the sum
Asked by rajinder4522 | 20 Oct, 2019, 07:56: PM
Expert Answer
n = 3 years, r = 5% p.a.
Compound intrest - simple interest = 80
P(1 + r)n - P - Pnr/100 = 80
P(1 + 0.05)3 - P - P × 3 × 5/100 = 80
P[1.157625 - 1 - 0.15] = 80
P × 0.007625 = 80
P = Rs. 10491.80
The sum is Rs. 10491.80
Answered by Sneha shidid | 22 Oct, 2019, 09:40: AM
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