Question

Radha borrowed a certain sum of money for 3 years at the rate of 5% per annum

compounded annually .Rohini borrowed the same sum of money ,for the same tims

and at the same rate of interest at simple interest. The difference in interest for the

2 is Rs.183.Find the sum borrowed by them.​

Answer 1

Answer:

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Step-by-step explanation:

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Answer 2

Answer:

(P(1 + 5/100)^3 - P) - P x 3 x 5/100 = 183

(P(21/20)^3 - P) - 3P/20 = 183

(P x (9261/8000 - 1)) - 3P/20 = 183

1261P/8000 - 3P/20 = 183

( 1261P - 1200P)/8000 = 183

61P/8000 = 183

P = 183  x 8000/61 = Rs.24000