Question

If the difference of CI and SI on a sum of money for two years is Rs 384 at the annual interest rate 8%, find the sum of money. Plz answer fast

Answer 1

Answer:

P = 30000

Step-by-step explanation:

Difference of C. I and S. I

$= p{ {({(1 + i)}^{n} - 1 )- (it)}}$

$384 = p{( ({1.08}^{2} - 1) - 2 \times \frac{8}{100} )} \\ \\ = > 384 = p((0.1664) - 0.16) \\ \\ = > 384 = p(0.0064) \\ = > p = \frac{384}{0.0064} = > p = 30000$