The difference between simple interest and co | vedclass

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(B) For a period of $3$ years,the difference $(D)$ between compound interest $(CI)$ and simple interest $(SI)$ is given by the formula: $D = P 	imes

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$16000$

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(B) For a period of $3$ years,the difference $(D)$ between compound interest $(CI)$ and simple interest $(SI)$ is given by the formula: $D = P 	imes \left(\frac{r}{100}ight)^2 	imes \left(\frac{300+r}{100}ight)$.Given: $D = ₹ 122$,$r = 5 \%$,$t = 3$ years.Substituting the values: $122 = P 	imes \left(\frac{5}{100}ight)^2 	imes \left(\frac{300+5}{100}ight)$.$122 = P 	imes \left(\frac{1}{20}ight)^2 	imes \left(\frac{305}{100}ight)$.$122 = P 	imes \frac{1}{400} 	imes \frac{305}{100}$.$122 = P 	imes \frac{305}{40000}$.$P = \frac{122 	imes 40000}{305}$.$P = \frac{122 	imes 8000}{61}$.$P = 2 	imes 8000 = ₹ 16000$.

The difference between simple interest and compound interest on a certain sum for $3$ years at $5 \%$ per annum is ₹ $122$. Find the sum (in ₹).

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