Question

Poonam borrowed from Pushpa a certain sum for 2 years at simple interest Poonam lent this sum to Alka at the same rate for 2 years compound interest at the end of 2 years she received Rs 110 as a compound is state but paid Rs 100 as simple interest find the sum and rate of interest

Answer 1

Answer: The sum is Rs 250 and rate of interest is 20%.

Step-by-step explanation:

Simple interest, S.I. on a certain sum, P for 2 years would be

S.I.= P*r*T = P*r*2  where r= rate of interest in percent

100= P*r*2 (because she paid Rs 100 as simple interest)

P*r=50   Equation 1

Compound interest for 2 years= simple interest for 1st year + simple interest on amount money after 1st year

Simple interest for 1st year= P*r*1= P*r= 50 ( from Equation 1)

Simple interest on amount money after 1st year= (P+S.I for 1st year)*r*1= (P+50)*r

So,

110= 50 + (P+50)*r

110-50= P*r + 50*r

60= 50 + 50*r

50*r= 60-50= 10

r= 10/50= 1/5  or 20%

Solving for P

P*r= 50 ( From Equation 1)

P= 50/r= 50*5= 250

Answer 2

Step-by-step explanation:

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