Difference between compound interest between third year and second year on certain sum of money is ₹ 576. If the rate of interest is 20%. Find the sum
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Answer:
Step-by-step explanation:
CI
SI for 1st year
Si=p*r*t/100
=x*20*1/100
2x/10
A=2x/10+x
=12x/10
Si for 2nd year
Si=p*r*t/100
=12x/10*20*1/100
=24x/100
A=24x/100+12x/10
=144x/100
Si for 3rd year
Si=p*r*t/100
=144x/100*20*1/100
=288x/1000
Diff=288x/1000-24x/100
576=(288x-240x)/1000
576*1000=48x
576/48*1000=x
12*1000=x
x=12000
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