The deference between simple interest and compound interest on a certain amount of money for 4 years at 10% per aus RS 120*
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Let the principal sum be P
SI = PRT100
CI = P [(1+R100)nt−1]
R = 10 %, T = 2 years, n = 2 [because CI is compounded half yearly]
SI = P×10×2100=P5
CI = P [(1+10100×2)2×2−1]
CI = P [(2120)4−1]
CI = P [194481160000−1]
CI = 3448116000P
CI - SI = 34481160000 P−P5
= 34481−3200016000 P
= 2481160000 P
∴ 248116000 P = 124.05
P = 124.05×1600002481 = Rs.8000
this is only method not ur solution
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