Question 146

If the difference between S.I. and C.I. for 2 years on a sum of money lent at 5% is 6, then the sum is

Solution

let the principal amount be Rs P

it is given that difference between CI and SI for two years = 6

rate of interest (R) = 5%

$$\frac{PR^2}{100^2}$$ = 6

P = 2400

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