The difference between the compound interest and simple interest on a certain sum for 2 years at 7.5% per annum is Rs. 360. Find the sum.

Question

Philoid · Accepted Answer

Given,

C.I – S.I = Rs.360

Time = 2 years

Rate = 7.5 % per annum

Let principal = Rs. P

So,

=

Hence,

Principal = Rs. 64000