Question

the difference between the compound interest and simple interest on a certain sum of money at 8% per annum for 2 years is rs. 112 find sum​

Answer 1

Answer:

$\huge\underline\mathfrak{Answer\::}$

● Given:-

□ CI - SI =Rs. 112

□ Rate of interest(r) = 8%

□ Time(n) = 2 years.

● To Find:

□ Sum of money (p) =?

● Solution:-

Let the sum of money be : P

Simple Interest (SI) = P × 8% × 2

=> SI = P × 8/100 × 2

=> SI = 4P/25 ★

$\rule{300}{2}$

CI = P(1+r)^n - P

=> CI = P (1+0.08)^2-P

=> CI = P × 1.1664 - P

=> CI = 1.1664P - P

=> CI = 0.1664P

$\rule{300}{2}$

So, CI - SI = 112

=> (0.1664P-0.16P) = 112

=>0.0064P = 112

=> P = 112/0.0064

=> P = Rs.17500 ★ ★ ★

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