The difference between the compound and simpl | vedclass

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Question

(C) The formula for the difference between compound interest $(CI)$ and simple interest $(SI)$ for $2$ years is given by: $	ext{Difference} = \frac{P

Vedclass · Accepted Answer

$2560$

Vedclass · Answer

(C) The formula for the difference between compound interest $(CI)$ and simple interest $(SI)$ for $2$ years is given by: $	ext{Difference} = \frac{PR^2}{100^2}$.Given:$	ext{Difference} = Rs. 10$$R = 6 \frac{1}{4} \% = \frac{25}{4} \%$Substituting the values into the formula:$10 = P 	imes \left[ \frac{25/4}{100} ight]^2$$10 = P 	imes \left[ \frac{25}{400} ight]^2$$10 = P 	imes \left[ \frac{1}{16} ight]^2$$10 = P 	imes \frac{1}{256}$$P = 10 	imes 256 = 2560$.Therefore,the sum is $Rs. 2560$.

The difference between the compound and simple interest on a sum of money for $2$ years at $6 \frac{1}{4} \%$ per annum is $Rs. 10$. The sum (in $Rs.$) is

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