the difference between compound and simple interest on a sum of money deposited for 2yrs at 5% per annum is rs 12.find the sum of money
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Answered by
0
Answer:
Rs4,800
Step-by-step explanation:
N=2years
R=5 %
We have S.I.=100PNR=100P×2×5=10010P=0.1P
And on interest being compounded for 2 years and R=5 %, Amount=P(1+100R)N=P(1+1005)2=P×(1.052)=1.1025P
So, C.I.=A−P=1.1025P−P=0.1025P
Given, C.I.−S.I=Rs12
0.1025P−0.1P=Rs12
0.0025P=Rs12
P=Rs4,800
Answered by
0
Answer:
Rs4,800
Step-by-step explanation:
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