Question
At the same amount, the difference between compound
interest and ordinary interest amount received in two years at the interest rate is 60 rupees, if the rate of interest is 4% per year, then calculate the amount invested. (In Rs.)Solution
Rate = 4% Time = 2 years Difference between C.I and S.I in 2 years = Rs. 60 The difference between Cl and SI for 2 years = PR2/1002 60 = (P x 4 x 4)/ (100 x 100) P = 60 x 25 x 25 P = 37,500 The total sum is Rs. 37,500.
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