Question

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

Answer 1

Answer:

Given : N=2years and R=8 %  

Lets principle amount is X

So simple interest for two year =8×2×X/100 = 16X/100

And C.A on X amt =X{108/100}2=11664X/10000 = 2916/2500

C.I =(2916/2500)X

Diff of C.I and S.I =(2916/2500)-X-16X/100=54.40

so X = 8500