Question

Mr A invests a certain sum of money for 3 years at a simple interest rate of interest p.a. which fetches an interest of rs.225. Mr B invests the same sum o money for 2 years at a compound interest rate of interest which is equal to the rate at which Mr A invests. Mr B earns Rs. 153 by way of interest. Find the sum of money and the common rate of interest.
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Answer 1

Answer:

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Step-by-step explanation:

It is given that

SI for 3 years = 225

SI for 2 years = (225×2)/3=150

CI for 2 years = 153

So the difference = 153 - 150 = 3

Here 3 is interest on one year i.e. 75 for one year

We know that

Rate =(SI×100)/(P×t)

Substituting the values

=(3×100)/(75×1)

=4%

SI for 3 years = 225

Rate = 4% p.a.

So Principal = (SI×100)/(R×t)

Substituting the values

=(225×100)/(4×3)

=1875

Answer 2

Answer:

1875 is the right answer

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