Find the sum on which the difference between
the simple interest and the compound interest
at the rate of 8% per annum compounded annually be ₹ 64 in 2 years.
Answers
Answer:
Given :
Rate = 8%
Time = 2 years
Difference= 64
To Find :
The Sum.
Solution:
Let \: sum \: be \: Rs \: xLetsumbeRsx
Simple Interest (SI) :
= > \dfrac{x \times 8 \times 2}{100}=>
100
x×8×2
= > \dfrac{4x}{25} = 0.16x=>
25
4x
=0.16x
Compound Interest (CI):
For First Year:
= > \dfrac{x \times 8 \times 1}{100} = 0.08x=>
100
x×8×1
=0.08x
= > 0.08x + 1 = 1.08x=>0.08x+1=1.08x
For Second Year:
= > \dfrac{1.08x \times 8 \times 1}{100} = 0.864x=>
100
1.08x×8×1
=0.864x
Total Compound Interest :
= > 0.08x + 0.0864x=>0.08x+0.0864x
= > 0.1664x=>0.1664x
The difference between the simple interest and the compound interest at the rate of 8% per annum compounded annually be 64 in 2 years.
Finding the Sum :
Simple Interest - Compound Interest = 64
= > 0.16x - 0.1664x = 64=>0.16x−0.1664x=64
= > 0.0064x = 64=>0.0064x=64
= > x = \dfrac{0.0064}{64}=>x=
64
0.0064
= > x = 10000=>x=10000
Hence, the sum is Rs 10,000
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Answer:
10,000
Step-by-step explanation:
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