Question

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

Answer 1

Answer:

sum is 8500

Step-by-step explanation:

I=8/100;n=2

CI -SI = 54.40

P[(1 + 0.08) ^2-1]-P x2 x8% = 54.40

P [1.1664-1]-Px 0.16 = 54.40

P [0.1664] -P[0.16]= 54.40

p(0.0064)=54.40

p=54.40/0.0064

p=8500

Answer 2

Answer:

The final and correct answer is RS 85,00 .