The difference between simple interest and compound interest of a certain sum of money at 20% per annum for 2 years is $48. Then the sum is
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tnwramit1:
now for 2 year do square of 5 =25
the sum=25
now if u calculate 25 with rate 1/5 the interest =5
for first year
for second year interest will be 6
difference =1 and acc to question difference is 48
so 1 assume unit =48
multiple the assumed sum with 48
u will get ur ans
any doubt
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formula for difference between compound interest(C.I) and simple interest (S.I)
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