If the difference between CI and SI on a certain sum of money at 5% per annum for 2 years is Rs.15, Find the sum. A. Rs.4500 B. Rs.5000 C. Rs.5550 D. Rs.6000 Answer Workspace Report Discuss Answer with explanation Answer: Option D Explanation We know, SI = P*R*T/100 And, CI = P(1 + R/100)T – P If T = 2years, CI – SI = P(1 + R/100)2 – P – 2*P*R/100 = P{12 + (R/100)2 + 2*1*(R/100)} – P – 2*P*R/100 = P + P(R/100)2 + 2*P*(R/100) – P – 2*P*R/100 => CI – SI = P(R/100)2 [For T = 2 years] ∴ 15 = P (5/100) 2 15 = P (1/20) 2 15 * 400 = P => P = Rs.6000 Workspace
kiya hoga