Question

the difference between compound interest and simple interest on a sum for 2 years at 8 % p.a is Rs 768 . * FIND THE SUM * pls do it step by step and if can type it.​

Answer 1

Step-by-step explanation:

Let the sum be P rupees

Time=T==2years

Rate of interest =R=8%p.a.

So simple interest=PRT/100=P×8×2/100=16P/100

compound interest =C=P{(1+R/100)²-1}

=P { (1+8/100)²-1}=P{(1+2/25)²-1}

=P{(27/25)²-1}

=P(729/625-1)

=P{(729-625)/625}

=P(104/625)

=104P/625

According to question

104P/625- 16P/100=768

=> (416P-400P)/2500=768

=> 16P/2500=768

=> P=768×2500/16=48×2500

=> P=120000

Thus, the sum is₹120000.

hope you got it.