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Question

(B) For a period of $2$ $years$,the difference between Compound Interest $(CI)$ and Simple Interest $(SI)$ is given by the formula:$	ext{Difference}

Vedclass · Accepted Answer

$6400$

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(B) For a period of $2$ $years$,the difference between Compound Interest $(CI)$ and Simple Interest $(SI)$ is given by the formula:$	ext{Difference} = P 	imes \left( \frac{R}{100} ight)^2$Where:$P$ = Principal$R$ = Rate of interest $(5\%)$$	ext{Difference} = 16$Substituting the values:$16 = P 	imes \left( \frac{5}{100} ight)^2$$16 = P 	imes \left( \frac{1}{20} ight)^2$$16 = P 	imes \frac{1}{400}$$P = 16 	imes 400$$P = 6400$Thus,the principal amount is $Rs. 6400$.

If the difference between the simple and the compound interest earned on a sum of money at the rate of $5$ $p.c.p.a.$ for $2$ $years$ is $Rs. 16$,find the principal (in $Rs.$).

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