Question

simple interest on a certain sum of money for 3 years AT 24% per annum is equal to compound interest on rs.18000 for 2 years at 20% per annum.The sum placed on simple interest is​

Answer 1

here given that

si on certain amount for 3 years  at 24%equals to the ci on 18000 for 2 year at rate 20 % p.a

first we find the ci

amount = principal ( 1+r/100)n

             = 18000 ( 1+ 20/100)2

             = 18000* 6/5* 6/5

              = 25920

amount = 25920

so the ci = amount - principal = 25920- 18000 = 7920

so the ci = 7920

a/q

si on 7920 for 3 year at 24% p.a equals to the ci on 18000 for 2 year at 20% p.a

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