Question

A sum of money is invested for 2 year at the rate of 12 % per annum compounded annually. If it was invested as simple interest ,the interest would be 72 rs less than the compound interest . find the sum of money​

Answer 1

Answer:

5000 Rs

Step-by-step explanation:

$a = p(1 + 12) \100)2$

$i = p(1 + 12 \100)2 - p$

$simple \: intrest$

$i = p \times 2 \times 12 \100$

$difference = 72$

$p(1 + 12 \100)2 - p - p \times 2 \times 12 \100 = 72$

$p = 5000rs$

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