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a sum of money is lent at 8% per annum compound interest if the interest for the second year exceeds for the first year by rupees 96 find the sum of money |
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Answer» Answer: For 1st YEAR p=rupees x .Rate=8% TIME =1year interest =x*8*1/100 =0.08x and amount =x+0.08x=1.08x For 2nd year P=1.08x rupees Rate=8% Time= 1 year Interest =1.08x*8*1/100 =0.0864x Amount =1.08x+0.0864x =1.8864 x 0.0864x-0.08x=96 x=15000 Step-by-step EXPLANATION: FOLLOW me |
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