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March 28, 2017

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The difference of compound interest and simple interest on an amount at the rate of 12% per annum for 2 years is Rs. 90/- then the amount will be -

  • maths - ,

    let the amount be x

    at compound interest:
    amount = x(1.12)^2 = 1.2544x

    at simple interest:
    x(.12)(2) = .24x

    so ....

    (1.2544x - x) - .24x = 90
    x(1.2544 - 1 - .24) = 90
    x(.0144) = 90
    x = 6250

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