the difference between the compound interest and simple interest for 2 years at 12% p a compound annually in ₹108 for the
sum of borrowed
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the difference between the compound interest and simple interest for 2 years at 12% p a compound annually in ₹108 for the
sum of borrowed
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Answer:
7500
Step-by-step explanation:
Answer:
Rs. 7500
Step-by-step explanation:
Let the sum borrowed was P
Here Time = 2 years and Rate = 12% per annum compounded annually
Lets Find Compound Interest
We know that
------- ( i )
Now Simple Interest
SI = (P × R × n)/100
SI = ( P × 12 × 2)/100
SI = 6P/25 ---- (ii )
According to Question CI - SI = 108
Putting values of CI and SI from ( i ) and ( ii )
P = 7500
∴ Sum borrowed was 7500