The difference between the compound interest and simple interest on a certain sum for 2 years at 6 % per annum is rs. 90. Find the sum.

Answer 1

let the amount be x
x(1.06)^2 - x(1 + 2(.06)) = 92

x(1.1236) - x(1.12) = 92
.0036x = 92
x =25,555.56