Question

the difference between simple interest and compound interest on a certain sum is rupees 54.40 for 2 years at 8 percent per annum .find the sum​

Answer 1

Answer:

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Step-by-step explanation:

SI=(P*T*R) /100

=(P*2*8)/100

=16P/100

CI=P[(1+R/100)^T-1]

=P[(1+8/100)^2-1]

=P[(27/25)^2-1]

=P[(729/625)-1]

=P[104/625]

=104P/625

ATQ,

CI-SI=54.40

104P/625-16P/100=54.40

0.1664P-0.16P=54.40

4P=34000

P=8500