Question

the compound interest on the sum of money for 2 years is rs. 1331.20 and the simple interest on the same sum for same period and the same rate is rs. 1280. find the sum and the rate of interest per annum​

Answer 1

Step-by-step explanation:

The Compound Interest on a sum of money for 2 years is Rs 1331.20 and the Simple Interest on the same sum for the same period and at the same rate is Rs 1280. Find the sum and the rate of interest per annum. Substitute in r = 8 in, S = 2 P r / 100 = 1280, we get: P = 1280*100/2 * 8 = 8000. So the sum = 8000 rupees.