On a certain sum of money, the difference between C.I. for a year payable half yearly, and the S.I. for a year is Rs 18. Find the sum lent out, if rate of interest in both the cases is 10 %.
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Answer:
3200
Step-by-step explanation:
let principal= P= a
T= 1 year
R= 10%
SI = PTR/100
=a X 1 X 10 /100
=a/10
N=2 (COMPOUNDED HALF YEARLY)
CI=A-P
=P(1+R/100)^N - P
= P(1+5/100) ^2-P
=P((105/100)( 105//100) -1)
=a(11025-10000) /10000
=a1025/10000
CI - SI = 8
a(1025/10000-1/10)=8
a(1025-1000)/10000 =8
a 25/10000=8
a= 8 X 10000/25
= 8 X 400
= 3200
sum lent out =a = 3200
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