The difference between compound interest and simple interest on a certain sum of money at 15% per annum for 3 year is 28 3.50 find the sum
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Given:
CI – SI = Rs 283.50
R = 15 %
n = 3 years
Let the sum be Rs x.
We know that:
A = P(1+R100)n
= x(1+5100)3
= x(1.15)3 …..(1)
Also,
SI = PRT100 = x(15)(3)100 = 0.45x
A = SI + P = 1.45x …..(2)
Thus, we have:
x(1.15)3 – 1.45x = 283.50 [From (1) and (2)]
1.523x – 1.45x = 283.50
0.070875x = 283.50
x = 283.500.070875
= 4000
Thus, the sum is Rs 4000.
CI – SI = Rs 283.50
R = 15 %
n = 3 years
Let the sum be Rs x.
We know that:
A = P(1+R100)n
= x(1+5100)3
= x(1.15)3 …..(1)
Also,
SI = PRT100 = x(15)(3)100 = 0.45x
A = SI + P = 1.45x …..(2)
Thus, we have:
x(1.15)3 – 1.45x = 283.50 [From (1) and (2)]
1.523x – 1.45x = 283.50
0.070875x = 283.50
x = 283.500.070875
= 4000
Thus, the sum is Rs 4000.
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