the difference between compound and simple interest on certain sum of money for 3 years at 6 2/3 % p.a is rs 18 4 find the sum
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Answered by
1
Answer:
The required sum is Rs 3375
Step-by-step explanation:
Suppose sum=P
Given CI−SI=Rs.122
P(1+
100
5
)
3
−P−(
100
P×5×3
)=122
P(
100
3
105
3
−1−
100
15
)=122
P(
100
3
7,625
)=122
P=
7,625
122×100
3
Compound interest for 2 years=Rs.832
Simple interest for 3 years=Rs.1200
As simple interest for each year remains the same.
So, simple interest for 2 years=1200×
3
2
=Rs.800
We know that,
CI
2 year
−SI
2 year
=
200
SI
2 year
×R
=
(100)
2
PR
2
832−800=
200
800×R
32=4×R
R=8%
Again, CI
2 year
−SI
2 year
=
(100)
2
PR
2
32=
100
2
P×(8)
2
32=
10000
P×64
P=
64
32
×10000=5000
Hence, the principal is Rs.5000.
=Rs.16,000
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2
Answer:
Step-by-step explanation:
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