If the difference between the simple interest | vedclass

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Question

(A) The formula for the difference between compound interest $(CI)$ and simple interest $(SI)$ for $3$ years is given by:Difference $= \frac{P 	imes

Vedclass · Accepted Answer

$8400$

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(A) The formula for the difference between compound interest $(CI)$ and simple interest $(SI)$ for $3$ years is given by:Difference $= \frac{P 	imes r^2}{100^2} 	imes \left(\frac{r}{100} + 3ight)$Here,$r = 15$ and the difference $= 595.35$.Substituting the values:$595.35 = \frac{P 	imes 15^2}{100^2} 	imes \left(\frac{15}{100} + 3ight)$$595.35 = \frac{P 	imes 225}{10000} 	imes (0.15 + 3)$$595.35 = \frac{P 	imes 225}{10000} 	imes 3.15$$595.35 = \frac{P 	imes 708.75}{10000}$$P = \frac{595.35 	imes 10000}{708.75}$$P = \frac{5953500}{708.75} = 8400$Thus,the principal amount is $Rs. 8400$.

If the difference between the simple interest and compound interest earned on an amount at $15$ $p.c.p.a.$ at the end of $3$ years is $Rs. 595.35$,what is the amount (in $Rs.$)?

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