Question

3. A sum of money is lent at 8% per annum
compound interest. If the interest for the
second year exceeds that for the first year by
396, find the sum of money. this questin answer fast​

Answer 1

Answer:

You can do the equations with 396 with 8% answer will be 364.32

Answer 2

Let P=Rs x

R=8%

Then interest for the first year=

$\frac{x \times 8 \times 1}{100} = \frac{8x}{100}$

Then Principal foe the second year=

$x + \frac{8}{100} x =$

$rs. \frac{108}{100} x$

hence interest for the second year=

$\frac{ \frac{108}{100}x \times 8 \times 1 }{100} =$

$rs. \frac{864x}{10000}$

According to the question

According to the question

$⇒ \frac{864x}{10000} = \frac{8x}{100} + 96$

$⇒ \frac{864x}{10000} - \frac{8x}{100} = 96$

$⇒ \frac{864x - 800x}{10000} = 96$

$⇒ \frac{64x }{10000} = 96$

$⇒64x = 96 \times 10000$

$⇒x = \frac{96 \times 10000}{64}$

$⇒x = 15000$

Hence the sum=Rs. 15000$$