Question

the difference between simple interest on a sum of money for 5 year and for 3 year at 5% per annum is rupees 600 find the sum​

Answer 1

Simple interest,I,is given by the formula,

I=PNR

Where P is the principal, N , the number of years and R , the rate of interest.

Here,I=1200÷3 =Rs. 400

N =3; and R =5%;

P = I÷NR = 400÷5/100 =400× 100/5 =Rs.8000

Principal+ compound interest for three years

=8000×(105/100)(105/100)(105/100)

=Rs. 9261

Compound interest for the same amount for the same period =Rs. (9261 - 8000)

=Rs. 1261

Answer 2

see the attached document