*The difference between simple interest and compound interest at the rate of 10% for two years on an amount is Rs. 20. Find the principal value?* 1️⃣ ₹.1002️⃣ ₹ 2003️⃣ ₹. 200004️⃣ ₹ 2000 About the author Samantha
Answer: 4️⃣ ₹2,000 Explanation : The difference between simple interest and compound interest at the rate of 10% for 2 tear is ₹20. Find the principal. Let’s take the principal as ‘p’ We know that, → S. I. = p × r × t/100 → S. I. = p × 10 × 2/100 → S. I. = 20p/100 And also, The C. I. = Amount – principal Or, → p(1 + r/100)ⁿ – p → p(1 + 10/100)² – p → p(11/10)² – p → 121p/100 – p → 21p/100 Given, → C. I. – S. I. = 20 → 21p/100 – 20p/100 = 20 → p/100 = 20 → p = 2000 ∴ The principal is ₹2,000 _____________________ Formula used : 1. Amount = p(1 + r/100)ⁿ p = principal r = rate n = time 2. Simple interest = p × r × t/100 Reply
Answer:
4️⃣ ₹2,000
Explanation :
The difference between simple interest and compound interest at the rate of 10% for 2 tear is ₹20.
Find the principal.
Let’s take the principal as ‘p’
We know that,
→ S. I. = p × r × t/100
→ S. I. = p × 10 × 2/100
→ S. I. = 20p/100
And also,
The C. I. = Amount – principal
Or,
→ p(1 + r/100)ⁿ – p
→ p(1 + 10/100)² – p
→ p(11/10)² – p
→ 121p/100 – p
→ 21p/100
Given,
→ C. I. – S. I. = 20
→ 21p/100 – 20p/100 = 20
→ p/100 = 20
→ p = 2000
∴ The principal is ₹2,000
_____________________
Formula used :
1. Amount = p(1 + r/100)ⁿ
p = principal
r = rate
n = time
2. Simple interest = p × r × t/100