Question

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
* 96, find the sum of money.​

Answer 1

Answer:

The Sum is => Rs 15000

Step-by-step explanation:

we know that 8%= 2/25

let sum= (25)²= 625

1st year interest=> 625*2/25= rs. 50

2nd year interset => 50+ 50*2/25 = rs. 54 ( CI is interset on interest. )

Difference of CI for 2nd year and 1st year=> 54-50= 4 unit

but, given difference= Rs 96

so, 4 unit == Rs 96

1 unit== Rs 24

sum == 625 unit = 625*24= Rs 15000

I hope it helps