Question

find the sum on which the difference between c.i and s.i rate 5% for 3years is rupees 12.20?​

Answer 1

Rate of interest = 5% p.c.p.a.If time 3 years than CI−SI = P[(R100)3+3(R100)2]⇒122=P[(5100)3+3(5100)2]⇒122=P(1251000000+7510000)⇒122=P[125+75001000000]⇒122=P[75251000000]⇒P=122×10000007625⇒P=Rs. 16000

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