a sum of money amount to₹1000 in 3 years at a certain rate of interest and it amount to ₹1200 in 4 years at same rate.find the sum answer is ₹400 full explained
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Answer:
₹400
Step-by-step explanation:
Amount in 3 years= ₹1000
Amount in 4 years=₹1200
Simple interest in 1 year= (Amount in 4 years)-(Amount in 3 years)
Simple interest in 1 year= ₹1200-₹1000
Simple interest in 1 year= ₹200
Simple Interest in 3 years=₹200×3
Simple interest in 3 years= ₹600
Amount=Principal+Simple Interest
1000=Principal+600
1000-600= Principal
Principal= ₹400
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