Question

The difference between SI and CI compounded annually on a certain sum of money for 2 years at 8% per annum is Rs. 12.80. Find the principal.

Pls answer as soon as possible ​

Answer 1

Step-by-step explanation:

difference between si and ci for 2 yrs = p(r/100)²

40 = p(8/100)²

p = 6250

Answer 2

Answer:

The Principal is Rs. 2000

Step-by-step explanation:

Given Time (n) = 2 years

Rate (R) = 8%

CI - SI = 12.80

Le the principal be P

We know CI = P(1+$\frac{R}{100}$)ⁿ - P

SI = $\frac{PRT}{100}$

=> CI - SI = P(1+$\frac{R}{100}$)ⁿ - P - $\frac{PRT}{100}$ = 12.80

=> P [(1+$\frac{R}{100}$)ⁿ - 1 - $\frac{RT}{100}$] = 12.80

=> P [(1+$\frac{8}{100}$)² - 1 - $\frac{8*2}{100}$] = 12.80

=> P [1²+($\frac{8}{100}$)² + 2*$\frac{8}{100}$ - 1- $\frac{8*2}{100}$] = 12.80

=> P [1²+($\frac{8}{100}$)² - 1] = 12.80

=> P [1 + 0.0064 - 1] = 12.80

=> P [0.0064] = 12.80

=> P = 2000

Therefore, the Principal is Rs. 2000