difference between the compound interest and simple interest on certain sum of money at 10% per annum for 2 years is rupees 500 find the sum when the interest is compounded annually
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simple interest is 10% and 2years is answer 625
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Formula for 2 years
Difference=P(R/100)²
500 = P(10/100)²
P= 500x100
∴Sum P = 50000rs
Difference=P(R/100)²
500 = P(10/100)²
P= 500x100
∴Sum P = 50000rs
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