Question

The difference between simple interest and compound interest on a certain sum is 54.40 for 2 years at 8 per cent per annum. Find the sum

Answer 1

Lets principle amount is X

So simple intrest fo two year =

100

8×2×X

=

100

16X

And C.A on X amt =X{

100

108

}

2

=

10000

11664X

=

2500

2916

C.I =

2500

2916

-X

Diff of C.I and S.I =

2500

2916

-X-

100

16x

=54.40

so X = 8500

Answer 2

Step-by-step explanation:

I-C.I= 54.40

R=8%

T=2

I=PTR/100

principal interest be x

I=16x/100

C.I=p(1+r/n)^nt

=x(1+8)2

=81x