Question

What is the sum of money on which the difference between simple and compound interest in 2 years is $ 80 at the interest rate of 4% per annum?

Answer 1

Step-by-step explanation:

what is the sum of money on which the difference between simple and compound interest in 2 years is 80rupees at the interest rate of 4 percent per annum????

Answer 2

Given:

What is the sum of money on which the difference between simple and compound interest in 2 years is $ 80 at the interest rate of 4% per annum?

Solution:

$\textsf{SI}=\frac{PTR}{100}$

$\frac{P\times5\times2}{100}=0.1P$

$CI=P[(1+\frac{R^n}{100})-1]$

$P(1.05^2-1)$

$= 0.1025P$

$C.I-S.I=0.0025P=15$

$\to P=6000$ ₹

Answer:

₹6000