Question

On what sum of money will the difference between the simple interest and compound interest for 2 years at 8% per annum be equal to Rs. 8?​

Answer 1

Answer:

RS. 12.50

Step-by-step explanation:

Let the sym of the Money is :

➡C.I-S.I = 8

➡

$p((1 \times \frac{8}{100} ) - 1) - \frac{p \times 8 \times 2}{100} = 8$

$\frac{140p}{625} - \frac{16p}{100} = 8$

140p=8*62500

p => Rs. 12.50