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Given: Difference between compound interest and simple interest = Rs.450 Rate (R) = 15% Time = 2 years Formula used: S.I. = (P × R × T)/100 C.I. = P(1 + R/100)T – P The difference between S.I. and C.I. for 2 years = PR2/(100)2 Where P → Principal R → Rate T → Time Calculations: Let the principal be Rs. P. S.I. = (P × R × T)/100 ⇒ (P × 2 × 15)/100 ⇒ 3P/10 C.I. = P(1 + R/100)T – P ⇒ P × (1 + 15/100)2 – P ⇒ 529P/400 – P ⇒ 129P/400 The difference between S.I. and C.I. for 2 years = (129P/400) – 3P/10 ⇒ 9P/400 = 450 ⇒ P = 20000 ∴ The value of the sum is Rs. 20,000. Let the principal be Rs. P. According to the question, The difference between the compound interest and simple interest for 2 years = PR2/(100)2 ⇒ 450 = P × 15 × 15/10000 ⇒ P = Rs.20,000 ∴ The value of the sum is Rs. 20,000. India’s #1 Learning Platform Start Complete Exam Preparation
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Discussion :: Simple Interest - General Questions (Q.No.4)
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