Question

The difference between compound interest and simple interest on a sum for 2 years at 8 percent is Rs. 768. The sum​

Answer 1

Step-by-step explanation:

Let the sum be x.

We know that SI = PTR/100

                            = x * 8 * 2/100

                            = 16x/100.

                            = 4x/25

Then the CI = x(1 + 8/100)^2  - x

                    = x(1 + 2/25)^2 - x

                    = x(27/25)^2 - x

                   = 729x/625 - x

                   = 104x/625

Given that the difference between CI and SI = 768.

               104/625 x - 4x/25 = 768

              LCM of 625,25 = 625

               104x - 100x =  768 * 625

               4x = 480000

                 x = 120000.

therefore the sum is 120000.

Hope this helps!