Practicing Success
The difference between simple interest and compound interest of a certain sum of money at 20% per annum for 1 year is Rs.200. Then the sum is: (Interest being compound half yearly) |
Rs.20000 Rs.32000 Rs.22000 Rs.12300 |
Rs.20000 |
Simple interest ⇒ 20% Compounded interest ⇒ 10% + 10% + \(\frac{10 × 10}{100}\)% ⇒ 21% Diff. b/w C.I & S.I. for two years ⇒ (21% - 20)% ⇒ 1% ATQ, 1% of P = 200 100% of P = \(\frac{200}{1}\) × 100 Principal = Rs.20000 |