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The differenc...

Question

The difference between $C I$ and $S I$ for 2 years on the same sum at $5$ % p.a is Rs. $240$ . Find the sum.

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Solution

$S I = p (1 + \frac{2 \times 5}{100}) = \frac{11 p}{10}$

$C I = p (1 + \frac{5}{100})^{2} = \frac{441 p}{400}$

$\frac{p}{400} = 240$

$⟹ p = 96000$

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