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Question

By using the formula, find the amount and compound interest on:

The difference between the compound interest and the simple interest on a certain sum for 2 years at 6% per annum is Rs 90. Find the sum.


Solution

Difference between C.I. and S.I = Rs. 90Rate (R) = 6% p.a.Period (n) = 2 yearsLet principal (P) = Rs. 100 Amount on C.I.= P(1+R100)n=100(1+6100)2=Rs. 100×(5350)2=Rs. 100×5350×5350=Rs. 280925 C.I. = A - P = Rs.280925100= Rs.2809250025=30925and S.I=PRT100=100×6×2100=Rs. 12Difference between C.I. and S.I.=Rs. 3092512=Rs. 30930025=925Now if difference is Rs. 925 thenprincipal = Rs. 100and if difference is Rs. 90, then principal=100×25×909=Rs. 25000

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