+0  
 
+1
229
1
avatar

the difference between compound interest and simple interest on a sum for 2 years at 8 % p.a. is  Rs. 768.  Find the sum 

Guest Nov 25, 2017
 #1
avatar
+1

Let the amount of money invested =M, then we have:

{M x [1.08]^2 - M} - {M x 0.08 x 2} = 768, solve for M

{ 1.1664M - M} - {0.16M} =768

0.0064M =768  Divide both sides by 0.0064

M = 768 / 0.0064

M =120,000 Rs - The principal amount invested. 

Compound interest =19,968

Simple interest =19,200

19,968 - 19,200 =768 Rs.

Guest Nov 25, 2017

18 Online Users

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.