Question

If pi2= Rs 96 and R = 8% compounded annually then P​?

(a) Rs 14,000
(b) Rs 15,000

(c) Rs 16,000
(d) Rs 17,000

Answer 1

Answer:(B) Rs15000

Step-by-step explanation:

Answer 2

Principle $P = 15000$

Explanation:

Given that,  

Rate of interest $= 8 \%$ per year

Difference between compound interest and simple interest for two years [= 96[/tex]

We have to find the Principle P = ?

And we know that the formula for two years difference in CI and SI is  

$\textrm{Difference for two years} = P(\frac{R}{100})^{2}$

$96 = P(\frac{64}{10000})$

$P = 96 \times \frac{10000}{64}$

Principle $P = 1.5 \times 10000 = 15000$  .