Question

Find the principal amount invested if the difference between Compound Interest and Simple Interest obtained for 3 years at rate of interest of 25% is Rs. 320.​

Answer 1

Answer:

Verified Answer

Principal amount = 1575

Given : rate = 25%, time = 3 years

According to the question

compound interest - simple interest = 320 Formula [A= P( 1+ r/100)*nt]

[P(1+r/100) *nt - p] - PRT/100 = 320

[P(1+25/100)*3 -P] - p×25×3×100 = 32

[P( 125/100)*3 - p] - 3p/4 = 320

[P(1.25)*3-p] -3p/4 = 320

[1.953125p - p] - 3p/4 = 320 -

0.953125p - 0.75p = 320

0.203125p = 320P = 320/0.203125

P= 1575

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Answer 2

Step-by-step explanation:

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