Question

The compound interest on a certain sum for two years at 20% per annum is rs. 770. If the same sum is lent for 3 years at simple interest for 1% per month, find the interest obtained on the sum

Answer 1

Heyy mate ❤✌✌❤

Here's your Answer.....

⤵️⤵️⤵️⤵️⤵️⤵️

let the sum be P.

CI = P(1 + 20/100)2  – P = 770

=> 1.44P – P = 770

=> 0.44P = 770

=> P = 1750

Now rate of interest = 1% pm = 12% p.a.

SI =  1750 × 12 × 3 / 1000 = 630
✔✔✔