find the sum on which the difference between the simple interest and the compound interest at the rate of 8percent per annum compounded annually be ₹ 64 in 2 year...
Answers
Let money be Rs. 100
To calculate S.I.
P = Rs. 100; R = 8% and T = 2 years
straight S. straight I. equals Rs. space fraction numerator 100 cross times 8 cross times 2 over denominator 100 end fraction equals Rs. space 16
To calculate C.I.
For 1st year
P = Rs. 100; R = 8% and T= 1 year
Interest equals Rs. space fraction numerator 100 cross times 8 cross times 1 over denominator 100 end fraction equals Rs. space 8
Amount = Rs. 100 + Rs. 8 = Rs. 108
For 2nd year
P = Rs. 108; R = 8% and T = 1 year
Interest equals Rs. space fraction numerator 108 cross times 8 cross times 1 over denominator 100 end fraction equals Rs. space 8.64
Amount = Rs. 108 + Rs. 8.64= Rs. 116.64
Compound interest = Rs. 116.64 - Rs. 100= Rs. 16.64
Difference between C.I. and S.I.= Rs. 16.64 - Rs. 16= Rs. 0.64
When difference between C.I. and S.I. is Rs. 0.64, money is Rs. 100
When space difference space is space Rs. space 64 comma space money space equals space Rs. space fraction numerator 100 cross times 64 over denominator 0.64 end fraction equals Rs. space 10 comma 000
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