Question

A simple interest scheme pays 5% more interest than another. If the difference between interests earned in 3
years, for a particular principal amount P, is Rs. 975, find P.
(a) Rs. 3,200
(b) Rs. 4,650
(c) Rs. 5,375
(d
Rs. 6,500

Answer 1

Answer:Answer: Principal sum = ₹1000, interest rate = 10%p.a. , time= 4yrs. Simple interest= P.R.T/100 = 1000×10×4/100 = 400. Compound interest= P{1+ R/100}™ - P =1000{1+10/1000}^4-1000 = 1464.1 - 1000 = 464.1 Thus difference in interests= 464.1 - 400 = ₹64.1.

Step-by-step explanation:

Answer 2

Step-by-step explanation:

(3*P(X+5)/100) - 3*P(X/100) = 975/1

3P/100(x+5-x) = 975

15/100 *P = 975

P = 975*100/15 = 6500