If the different between the compound interest and the simple interest on a certain sum for 2 yr at 8% per annum is ₹ 32, then the sum is

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Accepted Answer

Given, R = 8%, D = ₹ 32 and P = ? By formula, D = P(R/100)2 ⇒ 32 = P(8/100)2 ∴ P = 32 x [(100 x 100)/(8 x 8)] = ₹ 5000

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