Question
The difference between earned interest on the same
amount invested for 2 years on compound interest and simple interest is Rs. 75. If interest rates are 5% per year, then calculate the amount invested. (In rupees)Solution
As we know, The difference between Cl and Sl for 2 years = Pr²/1002 75 = (P x 5 x 5) / (100 x 100) P = 75 x 20 x 20 P = 30000 The total sum is 30000.
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