Question

the compound intrest of a sum
of money
at 8% for 2 year
is Rs 108.
find the interest for 1 year and principal
​

Answer 1

Answer:

ANSWER

Let money be Rs 100

For 1

st

year

P = Rs.100; R = 8% andT = 1 year

Interest for the first year =

100

100×8×1

= Rs. 8

Amount = Rs 100 + Rs.8 = Rs.108

Let money be Rs 100

For 2

nd

year

P = Rs.108; R = 8% and T = 1 year

Interest for the second year =

100

108×8×1

= Rs. 8.64

Difference between the interests for the second and first year = Rs 8.64 - Rs 8 = Rs 0.64

Given that interest for the second year exceeds the first year by Rs.96

When difference between the interests is Rs 0.64, principal is Rs 100

When the difference between the interests is Rs 96, principal = Rs

0.64

96×100

= Rs 15,000