the difference between the compound interest and simple interest on a certain sum of money at 15% per annum for 3 years is 283. 50 rupees find the sum
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Solution
Let the sum be Rs.x. then S.I.=(x*10*3 / 100) = 3x/10
C.I = [x(1+10/100)^3 -x] = 331x/1000
331x/1000 - 3x/10 = 46.50
=> 31x/1000 = 46.50
=> x = 1500
Solution
Let the sum be Rs.x. then S.I.=(x*10*3 / 100) = 3x/10
C.I = [x(1+10/100)^3 -x] = 331x/1000
331x/1000 - 3x/10 = 46.50
=> 31x/1000 = 46.50
=> x = 1500
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