Question
The difference between the simple and compound interest
compounded annually of a sum at 12% p.a. for 2 years is Rs. 180. Find the sum.Solution
Let the sum = Rs. x According to the question, x(1 + 12/100)2Β β x β x Γ 12% Γ 2 = 180 784x/625 β x β 6x/25 = 180 159x/625 β 6x/25 = 180 9x/625 = 180 x = Rs. 12500
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