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Question 124
On what sum of money will the difference between S.I and C.I for 2 years at 5% per annum be equal to 25 ?
Solution
Let sum of money = $$100x$$
rate = 5%, time = 2 years
=> S.I. = $$\frac{100x * 5 * 2}{100} = 10x$$
=> C.I. = $$100x(1 + \frac{5}{100})^{2} - 100x$$
= $$100x(\frac{441}{400} - 1)$$
= $$100x(\frac{41}{400})$$ = $$\frac{41x}{4}$$
Required difference = $$\frac{41x}{4} - 10x$$ = 25
= $$\frac{x}{4}$$ = 25 => $$x$$ = 100
=> Sum = 100*100 = 10,000
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