on what sum of money will the difference between the simple interest and the compound interest for 2 years at 5% per annum be equal to rupees 50
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Answer:
Step-by-step explanation:
Let the principal is p.
SI for 1 year= 5p/100
As difference of compound and simple interes in 2 years= the interest of SI for 1st year
=5p/100*(5/100)
=p/400
Conditionally,
p/400=50
=>p =50*400=20000
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