Practicing Success
The difference between simple interest and compound interest of a certain sum of money at 10% per annum for 1 year is Rs.1800. Then the sum is: (Interest being compound half yearly) |
Rs.740000 Rs.780000 Rs.750000 Rs.720000 |
Rs.720000 |
Simple interest ⇒ 10% Compounded interest ⇒ 5% + 5% + \(\frac{5 × 5}{100}\)% ⇒ 10.25% Diff. b/w C.I & S.I. for two years ⇒ 10.25% - 10% ⇒ 0.25% ATQ, 0.25% of P = 1800 1% of P = \(\frac{1800}{.25}\) 100% of P = \(\frac{1800}{25}\) × 10000 Principal = Rs.720000 |