A sum of money is lent at 8% per annum compound interest. If the inter

1.	A sum of money is lent at 8% per annum compound interest. If the interest for the second year exceeds that for the first year by 96 rupees ,find the sum of money
Answer» Answer: For 1ST year p=rupees X .Rate=8% TIME =1year interest =x81/100 =0.08x and AMOUNT =x+0.08x=1.08x For 2nd year P=1.08x rupees Rate=8% Time= 1 year Interest =1.08x81/100 =0.0864x Amount =1.08x+0.0864x =1.8864 x 0.0864x-0.08x=96 x=15000 Step-by-step explanation:

A sum of money is lent at 8% per annum compound interest. If the interest for the second year exceeds that for the first year by 96 rupees ,find the sum of money

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:

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A sum of money is lent at 8% per annum compound interest. If the interest for the second year exceeds that for the first year by 96 rupees ,find the sum of money

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