Asked by maihul
                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 - 
            
            
        Answers
                    Answered by
            Reiny
            
    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
    
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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