Ram invested a certain amount of money for 3 years at 8% per annum. The simple
interest earned by him is half the compound interest on ₹4,000 for 2 years at 10% per
annum. Find the simple interest earned by Ram.
Answers
Given : Ram invested a certain amount of money for 3 years at 8% per annum. The simple interest earned by him is half the compound interest on ₹4,000 for 2 years at 10% per annum.
To Find : the simple interest earned by Ram.
Amount invested
Solution:
compound interest on ₹4,000 for 2 years at 10% per annum
P = 4000
R = 10
n= 2
A = P(1 + R/100)ⁿ = 4000( 1+ 10/100)² = 4000 * 121/100 = 4840
CI = 4840 - 4000 = 840 Rs
Half of 840 = 840/2 = 420 Rs
SI = 420
P =?
R = 8
T = 3
SI = P * R * T/100
=> 420 = P * 8 * 3 /100
=> P = 420 * 100/24
=> P = 1750
simple interest earned by Ram. = 420 Rs
Amount invested = Rs 1750
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