Question

find the sum on which the difference between the simple interest and the compound interest at the rate of 8percentage pet annum compounded annually be 64 in 2 years​

Answer 1

Answer:

Let the sum be 100

SI=PTR/100=100×2×8/100=16

AMOUNT =P(1+r/100)^n

=100(1+8/100)^2=100(1+2/25)^2

=100(27/25)^2=100(729/625)

=116.64

CI=16.64

Difference =.64

Actual difference =64

100:.64::x:64

=100×64×100/64=10000

Hope this helps you

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