Question

A sum of money is lent at 8%p.a C. I. If the interest for the second year exceeds that for the first year by Rs96, find the sum of (money) ​

Answer 1

Answer:

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Let P=Rs x,R=8% then

Then interest for the first year=  

100

x×8×1

​  

=  

100

8x

​  

 

Then Principal foe the second year=x+  

100

8

​  

x=Rs  

100

108

​  

x

hence interest for the second year=  

100

100

108

​  

x×8×1

​  

=Rs.  

10000

864x

​  

 

According to the question

⇒  

10000

864x

​  

=  

100

8x

​  

+96

⇒  

10000

864x

​  

−  

100

8x

​  

=96

⇒  

10000

864x−800x

​  

=96

⇒  

10000

64x

​  

=96

⇒64x=96×10000

⇒x=  

64

96×10000

​  

 

⇒x=15000

Hence the sum=Rs. 15000

Thank you.