Question

If the compound interest on a certain sum for 2 years at 3% p.a. is 1015. What would be
the simple interest on the sum at the same rate and same time is
(a) 1005
(b) 1010
(c) 1000
(d) 1003​

Answer 1

Answer:

1005 is the right answer I know it it the right answer

Answer 2

Answer:

ANSWER

Let the principal be Rs.P Then

101.50=P⎣⎢⎡(1+1003)2−1⎦⎥⎤=P⎣⎢⎡(100103)2−1⎦⎥⎤

⇒101.50=P[1000(103)2−(100)2]=P[10000(103+100)(103−100)]

⇒P=203×3101.50×10000=Rs.35000

∴S.I.=3×1005000×3×2=Rs.100

Therefore answer is Rs 100.