the difference between simple and compound interest compounded annually on a certain sum of money for 2 years at 4% per annum is rupees 1 .What is the sum???
Write answer will get 20 points and I want step by step explanation
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Answered by
12
Let the sum be Rs.x,then
Compound interest=x{1+4/100}^2-x
=676/625 x-x
=51/625 x
Simple Interest=x×4×2/100 =2x/25
therefore 51x/625-2x/25=1
x=625
Answered by
2
Answer:
625 is the answer and hi bro
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