The difference between the compound interest | vedclass

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Question

(B) The formula for the difference between compound interest $(CI)$ and simple interest $(SI)$ for $2$ years is given by:$CI - SI = P \left( \frac{R}{

Vedclass · Accepted Answer

$600$

Vedclass · Answer

(B) The formula for the difference between compound interest $(CI)$ and simple interest $(SI)$ for $2$ years is given by:$CI - SI = P \left( \frac{R}{100} ight)^2$Given:Difference $(CI - SI)$ = ₹ $1.50 = \frac{3}{2}$Rate $(R)$ = $5 \%$Time $(T)$ = $2$ yearsSubstituting the values in the formula:$\frac{3}{2} = P \left( \frac{5}{100} ight)^2$$\frac{3}{2} = P \left( \frac{1}{20} ight)^2$$\frac{3}{2} = P 	imes \frac{1}{400}$$P = \frac{3 	imes 400}{2}$$P = 3 	imes 200 = 600$Therefore,the sum is ₹ $600$.

The difference between the compound interest and simple interest on a certain sum at $5 \%$ per annum for $2$ years is ₹ $1.50$. The sum is (in ₹):

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