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The difference between compound interest and simple interest on a certain sum for 2 years at 8% per annum is ₹96. The sum (in ₹) is:

Competition practiceRatio, Percentage & Commercial Math

A12000
B14400
C16000
D15000

Step-by-Step Solution

For 2 years, CI − SI =

P (r /100)^{2} = P \times (0.08)^{2} = 0.0064 P

. So

0.0064 P = 96

→

P = 96/0.0064

= ₹15000.

Answer: D) 15000

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