Q. 143.8( 43 Votes )

The difference be

Answer :

Let sum = P


Interest rate = 6% per annum


Time = 2 years


Simple interest (SI) = PRT/100 [Where, P = Present value


R = Annual interest rate


T = Time in years]


SI = (P × 6 × 2)/100


SI = 3P/25 __________ (i)


Compound interest (CI) = P (1 + R/100)n - P [Where, P = Present value


R = Annual interest rate


n = Time in years]


CI = P (1 + 6/100)2 - P


CI = P (1 + 3/50)2 - P


CI = P (53/50)2 - P


CI = (2809P/2500)- P


CI = (2809P – 2500P)/2500


CI = 309P/2500 ______ (ii)


Now,


CI – SI = (309P/2500) – (3P/25)


90 = (309P/2500) – (3P/25) [Given, CI – SI = 90]


90 = (309P – 300P)/2500


90 = 9P/2500


P = 90 × 2500/9


P = 10 × 2500


P = 25000


Sum = Rs.25000


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