Question
The difference between earned interest on the same
amount invested for 2 years on compound interest and simple interest is Rs. 76. If interest rates are 4% per year, then calculate the amount invested. (In rupees)Solution
As we know, The difference between Cl and Sl for 2 years = Pr²/1002 76 = (P x 4 x 4) / (100 x 100) P = 76 x 25 x 25 P = 47500 The total sum is 47500.
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