Question

Sam invested 'X' at 25% Simple Interest for 3 years and 'X + 5000' at 20% annual
Compound Interest for 2 years. If compound interest is Rs. 1520 less than the simple
interest, then what is the value of 'X'?​

Answer 1

Answer:

Given

P=Rs.250

A=Rs.285

T=2 yr

We know

Simple Interest =A−P

=285−250

=25

SI=

100

PRT

25=

100

250×R×2

R=

250×2

25×100

R=5%