Question

The difference between SI and CI on a certain sum is $54.40 for 2 years at 8%. Find the sum USING FORMULA.​

Answer 1

Lets principle amount is X

So simple intrest fo two year =8×2×X/100=16x/100

And C.A on X amt =X{108/100 }^2=11664x/10000=

2916/2500

C.I.=2916/2500-x

Diff of C.I and S.I = 2916/2500-x-26x/100=54.40

so X = 8500

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Answer 2

Answer:

principle of the given problem is $8500