Question

The difference between simple interest and compound interest on a sum of money for 2 years at 12%per annum is Rs.216. Find the sum.

Answer 1

Answer:

p=rupees 15000

Step-by-step explanation:

let the sum be P.

CI =P[(1+r/100)² -1]=P[(1+12/100² -1)] =P[28/25)²]-1]=P[784-625\625]=159/625p

SI=Px12x2\100=6p/25

given

CI - SI =216

159/625=6p/25=216

159p-150p\625=216

9p=625 x216

p=rupees 15000

hope this answer help you