Welcome to Adda
Question
The difference between simple and compound interest compounded annually on a certain sun of money for 2 year at 16% per annum is rs 320. what is the value of given sum(in rs)?
The difference between simple and compound interest compounded annually on a certain sun of money for 2 year at 16% per annum is rs 320. what is the value of given sum(in rs)?
a)25000
b)50000
c)37500d)12500
Comment
Share
Answer
we have formula for this pr2/100 so 320 is our interest and r is also given with time 320=p*16*16/100*100
