The difference between the C.I. and S.I. on a certain sum of money at 10% per annum for 2 years is Rs 127.69. Find the sum. Options286751276950007853
Question
The difference between the C.I. and S.I. on a certain sum of money at 10% per annum for 2 years is Rs 127.69. Find the sum. Options286751276950007853
Solution
The difference between Compound Interest (C.I.) and Simple Interest (S.I.) for two years is given by the formula:
P*(r/100)^2
Where: P is the principal amount (the sum we need to find) r is the rate of interest
Given: Difference between C.I. and S.I. = Rs 127.69 Rate of interest (r) = 10%
Substituting the given values in the formula:
127.69 = P*(10/100)^2 127.69 = P*(0.1)^2 127.69 = P*0.01
Solving for P:
P = 127.69 / 0.01 P = Rs 12769
So, the sum of money is Rs 12769. The closest option to this is 12769.
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