The difference between the compound and simple interest on a certain sum for 2 years at the rate of 8% per annum is rs.80,what is the sum?
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SI= P*R/100*T
= P*8/100*2
= 0.16p
. N
CI = P(1+R/100) - P
2
= P (1+8/100) -P
. 2
=P (1.08). -P
= 1.1664P-P
=0.1664P
CI - SI = 80
0.1664P - 0.16P = 80
0.0064p = 80
p= 80/0.0064
p= 12500
Note: p means principle sum.
So sum= 12500
= P*8/100*2
= 0.16p
. N
CI = P(1+R/100) - P
2
= P (1+8/100) -P
. 2
=P (1.08). -P
= 1.1664P-P
=0.1664P
CI - SI = 80
0.1664P - 0.16P = 80
0.0064p = 80
p= 80/0.0064
p= 12500
Note: p means principle sum.
So sum= 12500
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