Question

at the rate of 8% per annum if the compound interest is more than the simple interest by 160 rupees for two years in amount deposited would be​

Answer 1

Let amit borrow Rs x;

x[(1+

100

8

)

2

−1]−

100

x×8×2

=16

⇒0.1664x−0.16x=16

⇒x=

0.0064

16

Rs.2500

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