the compound interest on a sum at the rate of 15%for 2 years is 3096 and the simple interest on the same sum for the same period 2880 what will be the amount of sum.

 

 

Asked by SAHILKAPOOR | 3rd Aug, 2019, 02:58: PM

Expert Answer:

begin mathsize 16px style Simple space Interest space equals space fraction numerator straight P cross times straight R cross times straight N over denominator 100 end fraction
rightwards double arrow straight P space equals space fraction numerator 2880 space cross times space 100 over denominator 2 cross times 15 end fraction equals space Rs. space 9600

Therefore space the space amount space of space sum space is space Rs. space 9600. end style

Answered by Yasmeen Khan | 4th Aug, 2019, 01:46: PM