Question

A sum of money invested at the rate of 8% p. a. for a certain period of time yield rupees 480 as interest. If the period of investment is 3 years more then interest would have been rupees 1200 . Find the sum of money​

Answer 1

Answer:

Simple Interest, S.I. = Rs. 1260 =

100

PR×2

=

50

PR

-(i)

Compound Interest, C.I. = Amount(A) - Principle(P)

=P(1+

100

R

)

2

- P = PR(R/10000+1/50)=Rs.1323 -(ii)

Dividing (ii) by (I),

200

R

+1 =

1260

1323

⇒Rate,R=10%p.a.

Now,

100

PRT

=1260

⇒

100

P×10×2

=1260

⇒ Principal or Sum , P = Rs.6,300

Step-by-step explanation:

I hope this helps you