+0  
 
+5
469
1
avatar+297 

At 8 % rate of interest, if the compound interest is more than simple interest by Rs. 160 for 2 years, then the amount deposited would be   

 Sep 27, 2015
 #1
avatar
0

Let us set the original deposit to be x, then we have:

(1.08^2)x - 2(.08x) + x =160

1.1664x - .16x + x =160

1.1664x - 1.16x =160

.0064x=160

x=160/.0064

x=25,000. Being the original deposit.

 Sep 27, 2015

22 Online Users

avatar
avatar
avatar
avatar

New Privacy Policy

We use cookies to personalise content and advertisements and to analyse access to our website. Furthermore, our partners for online advertising receive information about your use of our website.
For more information: our cookie policy and privacy policy.