Question

S.
15. The difference between the compound interest and the simple interest on a
certain sum of money at 15% per annum for three years is 283.50. Find the sum.
​

Answer 1

Step-by-step explanation:

Given CI-SI= Rs. 283.50     R=15%      n=3 years

Let the sum be Rs.x

We know that : A=P(1+100R)n

A=2(1+1005)3=x(1.15)3 _________ (1)

Aslo, SI=100PRI=100x×15×3=1.45x _______ (2)

Thus, we have :

x(1.15)3−1.45x=283.50   (from (1)&(2))

⇒1.523x−1.45x=283.50

⇒0.070875x=283.50

⇒x=0.070875283=4,000

Thus, the sum is Rs 4000