Question

Simple Interest on a certain sum of money for 5 years at 50% per annum is haly the compound Inbesiest on 3000 fore2 years at 10% per annum The sum placed on simple interest is.​

Answer 1

Answer:

The answer is 126

Step-by-step explanation:

CI = [ P ( 1 + $\frac{R}{100}$ )ⁿ - P ]

CI = [ 3000 ( 1 + $\frac{10}{100}$ )² - 3000 ]

CI = [ 3000 ( 1 + $\frac{1}{10}$ )² - 3000 ]

CI = [ 3000 ( $\frac{11}{10}$ × $\frac{11}{10}$ ) - 3000 ]

CI = [ 3000 × $\frac{121}{100}$ - 3000 ]

CI = [ 3630 - 3000 ]

CI = 630

According to the question, SI is half of CI.

then, SI = 630 ÷ 2

SI = 315

Sum = 315 × 100 ÷ 50× 5

Sum = $\frac{31500}{250}$

Sum = 126