Question

simple interest on a certain sum for 3 yrs is 8percent is rs.96 more than the simple interest on the same sum for 2yrs at 9percent per annun find the sum

Answer 1

Here there are two same amounts invested for different tenures.

First one is invested for 3 years at 8% and interest received = x (say)

for second one, interest received = 96 less = x-96

x-96 = P(2)(0.09) and x = P(3)(0.08)

Now we have to solve for P

Subtract first from second to get

96 = P(0.24)-P(0.18)  = 0.06P

P = 96/0.06 = 1600

Hence the sum = 1600 rupees