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 rupees 96 find the sum of money​

Answer 1

Answer:

Correct option is

A

15000

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