The difference between compound interest for a year payable half yearly and simple interest on a certain sum of money lent out at 10 percent for a year is rupee 15. Find the sum of money lent out.

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Solution

P=?
R=10%
CI-SI=Rs 15
SI= P×R×T/100
=10×1×P/100=P/10 (i)
CI= P(1+R/200)² -P (HALF YEARLY)
CI= P(210/200)²-P
CI=(441×P/400) -P
CI=41P/400___(ii)

Diff. = CI-SI
= 41P/400 - P/10=P/400
But, given, diff.= 15
Therefore,
15=P/400
P=Rs 6000

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The difference between compound interest for a year payable half yearly and simple interest on a certain sum of money lent out at 10 percent for a year is rupee 15. Find the sum of money lent out.

P=? R=10% CI-SI=Rs 15 SI= P×R×T/100 =10×1×P/100=P/10 ________(i) CI= P(1+R/200)² -P (HALF YEARLY) CI= P(210/200)²-P CI=(441×P/400) -P CI=41P/400___________(ii) Diff. = CI-SI = 41P/400 - P/10=P/400 But, given, diff.= 15 Therefore, 15=P/400 P=Rs 6000

P=?
R=10%
CI-SI=Rs 15
SI= P×R×T/100
=10×1×P/100=P/10 (i)
CI= P(1+R/200)² -P (HALF YEARLY)
CI= P(210/200)²-P
CI=(441×P/400) -P
CI=41P/400___(ii)

Diff. = CI-SI
= 41P/400 - P/10=P/400
But, given, diff.= 15
Therefore,
15=P/400
P=Rs 6000