chiki4
Answered

The difference between the compound interest and the simple interest on a certain sum of money for 2 years at 11% per annum is Rs. 363. Find the sum.
1.33,000
2.31,000
3.30,000
4.32,000​

Answer :

lucky75

[tex]\huge\mathrm{\underline{\underline{Answer}}}[/tex]

★ Given :-

  • Difference between the CI and SI = ₹363

  • Years = 2 years

  • Rate of interest = 11% pa

★ Notations :-

  • p is principal

  • r is the rate of interest

  • t is the time period

★ Formula :-

  • Difference between the compound interest and simple interest =

  • p(1+(r/100))^t - p - (p×r×t)/100 = 363

★ To find :-

  • Let the sum be :- p

★ Solution :-

  • p(1+(r/100))^t - p - (p×r×t)/100 = 363

  • p( (1+11/100)^2 - 1 - 11×2/100 ) = 363

  • p( (111/100)^2 - 1 - 22/100 ) = 363

  • p ( 12321 / 10000 - 1 - 22 / 100 ) = 363

  • p ( (1.2321 - 1.22 ) = 363

  • p ( 0.0121 ) = 363

  • p = 363 / 0.0121

  • p = 3630000 / 121

  • p = ₹ 30,000

Ans:-The sum is ₹30,000

Other Questions