The difference between the compound interest and simple interest on a certain sum of money at 20/3% per annum for three years is ₹46. Find the sum.

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Solution

SI = PRT/100

SI = P * 20/3 * 3 / 100

SI = P/5

CI = P( 1 + r/100)n - 1

CI = P( 1 + (20/3) / (100) ] 3 - 1

CI = P( 16/15)3 - 1

CI = P [ 4096/3375 - 3375 / 3375 ]

CI = 721P / 3375

CI - SI = 46

721P/3375 - P/5

721P - 675P/ 3375 = 46

46P/3375 = 46

P = 46 * 3375 / 46

P = Rs 3375

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The difference between the compound interest and simple interest on a certain sum of money at 20/3% per annum for three years is ₹46. Find the sum.

SI = PRT/100 SI = P * 20/3 * 3 / 100 SI = P/5 CI = P( 1 + r/100)n - 1 CI = P( 1 + (20/3) / (100) ] 3 - 1 CI = P( 16/15)3 - 1 CI = P [ 4096/3375 - 3375 / 3375 ] CI = 721P / 3375 CI - SI = 46 721P/3375 - P/5 721P - 675P/ 3375 = 46 46P/3375 = 46 P = 46 * 3375 / 46 P = Rs 3375

SI = PRT/100

SI = P * 20/3 * 3 / 100

SI = P/5

CI = P( 1 + r/100)n - 1

CI = P( 1 + (20/3) / (100) ] 3 - 1

CI = P( 16/15)3 - 1

CI = P [ 4096/3375 - 3375 / 3375 ]

CI = 721P / 3375

CI - SI = 46

721P/3375 - P/5

721P - 675P/ 3375 = 46

46P/3375 = 46

P = 46 * 3375 / 46

P = Rs 3375