Question

Simple interest on a certain sum of money for 3 years at 8% per annum is half the compound interest on Rs. 4000 for 2 years at 10% per annum. The sum placed on simple interest is

Answer 1

C.I.= Rs.[4000*(1+10/100)^2-4000]

 =Rs.840

sum=Rs.(420 * 100)/3*8=Rs.1750

 

Answer 2

after using the CI formula we get the amount generated after interest= 4840
so CI= 4840-4000= 840
half of CI= 1/2(840)= 420
SI = 420= p(8)(3)/100
p=1750