Question

5. The difference between simple and compound
interest on the same sum of money at 6 2/3% for
3 years is 184. Determine the sum.
Sorry its a maths question
Please fast solve it
​

Answer 1

Answer:

13500

Step-by-step explanation:

let the sum be x

therefore,

CI = P(1+R/100)^t - P

SI = P×R×T/100

hence,CI - SI = P(1+R/100)^t - P - (P×r×t/100)

or

CI - SI = P{(1+r/100)^t - 1) - rt/100}

184 = P {(1+20/3/100)^3- 1) - 20/3 × 3/100}

184 = P{(4096/3375 - 1) -1/5}

184 = P{721/3375 -1/5}

184 = P(46/3375)

P = 3375/46 × 184

P = 13500

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