The difference between simple and compound interest on a certain sum of money at 5% p.a. for 2years is Rs 160. Find the sum.

• let the sum will be x,then
  compound interest=p(1+r/n)^nt=x(1+5/100)^2-x=(11025x/10000)-x=1025x/10000=41x/400
  simple interest=p*q*r/100=(x*5*2)/100=10x/100=x/10
  the difference between simple and compound interest on a certain sum p is 160
  (41x/400)-x/10=160
  x/400=160
  x=64000(ans)
  in prev solution i missed to put x,so avoid that sol.
• 12 years agoHelpfull: Yes(5) No(3)
• If P is principal and I is interest for first year , then
  diff between simple and compound interest on a certain sum of money is the interest on interst for first year.
  
  160 = I*5/100 = (P*5*1/100)*5/100
  P = 160*100*100/25 = Rs. 64000
• 12 years agoHelpfull: Yes(3) No(5)
• simple interest=p*q*r/100,compound interest=p(1+r/n)^nt
  now the
  suppose sum is p
  he difference between simple and compound interest on a certain sum p is 160
  p(1.05)^2-(p*5*2)/100=160
  401p=160*400
  p=159.6(ans)
  
• 12 years agoHelpfull: Yes(1) No(5)