Question

The difference between the compound interest and simple interest for 2 years at 10% p.a.is
120. Find the principal​

Answer 1

Answer:

2000 rupees is your answer

Answer 2

Step-by-step explanation:

The difference between compound interest and simple interest for 2 years is 120.

Then we have,

P(R/100)² = 120

Plug R = 10

P(10/100)² = 120

P(1/10)² = 120

P(1/100) = 120

Multiply both sides by 100

P = 120 x 100

P= 12000