A person got Rs.48 more when he invested a certain sum at compound interest instead of simple interest for two years at 8% p.a. Find the sum ?

Q: A person got Rs.48 more when he invested a certain sum at compound interest instead of simple interest for two years at 8% p.a. Find the sum ?

p = d × 100 2 R 2 Where d is difference, r is rate of interest. => (48 x 100 x 100) / 8 x 8 = Rs.7500

Rs.8000
Rs.6500
Rs.7500
Rs.5000

Correct Answer: Rs.7500

Explanation:

$p = \frac{d \times 1002}{R}$

Where d is difference, r is rate of interest.

=> (48 x 100 x 100) / 8 x 8 = Rs.7500

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