Question

the difference between the compound interest and simple interest for 2 years at 12% p a compound annually in ₹108 for the
sum of borrowed​

Answer 1

Answer:

7500

Step-by-step explanation:

Answer:

Rs. 7500

Step-by-step explanation:

Let the sum borrowed was P

Here Time = 2 years and Rate = 12% per annum compounded annually

Lets Find Compound Interest

We know that

------- ( i )

Now Simple Interest

SI = (P × R × n)/100

SI = ( P × 12 × 2)/100

SI = 6P/25 ---- (ii )

According to Question CI - SI = 108

Putting values of CI and SI from ( i ) and ( ii )

P = 7500

∴ Sum borrowed was 7500