The difference between SI and CI compounded annually on a certain sum of money for 2 years at 8 per ...........

Quant (SSC) Compound Interest

The difference between SI and CI compounded annually on a certain sum of money for 2 years at 8% per annum is Rs. 12.80. Find the principal.

3000

2500

2000

1800

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Explanation:

Let the principal amount be x.
SI = x * 2 * 8 / 100 = 4x/25
CI = x[1+ 8/100]² – x → 104x/625
Therefore, 104x/625 – 4x/25 = 12.80
Solving which gives x, Principal = Rs. 2000.

By: Amit Kumar

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The difference between SI and CI compounded annually on a certain sum of money for 2 years at 8 per ...........

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Explanation:

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