Question

a sum of money is placed at simple interest for 3 year at 10%per annum and then the amount is invested for 2 years at the same rate at compound interest. if total amount of 5 year become Rs 47190, what was the sum

Answer 1

Answer:

let money = x

x * 10/100* 3 = 0.3 x

Now 1.3 x ( 1+ 10/100)^2 = 471900

1.3 x * 121/100 = 471900

x = 47190000 / 121 * 1.3

x = 300000

hence sum = 300000 ( 3 Lacs