Question
On what sum will the difference between the simple and
compound interest for 3 years at 20% percent per annum amounts to Rs 66.56?Solution
We have the formula: Difference = (PR2 (300 + R))/(100)3 66.56 = (P × (20)2 × (300 + 20))/(100)3 P = (66.56 × 100 × 100 × 100)/(20 × 20 × 320) P = Rs. 520
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