if the compound interest on a sum for 2 years at 4 percent per annum is rs 408 then the simple interest on the same sum at the same rate and for the same periodis
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Answer:
SI=
100
P×r×t
⟹80=
100
P×4×2
⟹P=Rs.1,000
CI=P[(1+
100
r
)
n
−1]
CI=1000[(1+
100
4
)
2
−1]=Rs.81.6
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