The difference between the compound interest | vedclass

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Question

(C) The formula for the difference between compound interest $(CI)$ and simple interest $(SI)$ for $3$ years is given by:$CI - SI = P \left[ \left( \f

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$10000$

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(C) The formula for the difference between compound interest $(CI)$ and simple interest $(SI)$ for $3$ years is given by:$CI - SI = P \left[ \left( \frac{R}{100} ight)^3 + 3 \left( \frac{R}{100} ight)^2 ight]$Given $R = 3 \%$ and $CI - SI = 27.27$.Substituting the values:$27.27 = P \left[ \left( \frac{3}{100} ight)^3 + 3 \left( \frac{3}{100} ight)^2 ight]$$27.27 = P \left[ \frac{27}{1000000} + \frac{27}{10000} ight]$$27.27 = P \left[ \frac{27 + 2700}{1000000} ight]$$27.27 = P \left[ \frac{2727}{1000000} ight]$$P = \frac{27.27 	imes 1000000}{2727}$$P = \frac{2727 	imes 10000}{2727} = 10000$Thus,the sum is ₹ $10000$.

The difference between the compound interest and simple interest on a certain sum at $3 \%$ per annum for $3$ years is ₹ $27.27$. The sum is (in ₹):

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