13. Poonam borrowed from Pushpa a certain sum
for two years at simple interest. Poonam lent this
sum to Alka at the same rate for two years
compound interest. At the end of two years she
received 110 as compound interest but paid
* 100 as simple interest. Find the sum and rate of
interest.
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Answer:
Simple interest for two years= Rs. 100
∴Interest per year=Rs.50
By compound interest
Interest for I year=Rs.50
Interest for II year=Rs.(110−50)=Rs.60
=50+20% of 50=Rs.60
∴Rate of interest=20%
Let sum borrowed by Reena be P
⇒S.I=
100
PTR
⇒100=
100
P×2×20
⇒P=
2×20
100×100
⇒P=250
∴Sum borrowed=Rs.250
Rate of interest=20%
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