Question

The difference between the compound interest and simple interest on a certain sum of money at 15% per annum for 3 years is rupees to 283.50 .Find the sum.

Answer 1

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Answer 2

Step-by-step explanation:

R= 15%, T= 3 years

S.I= p×r×t/100

p×15×3/100= rs 9/20 p

then,

C.I= p[(1+15/100)^3-1]

= p[(1+15/100)^3-1]

= p[(23/20)^3-1]

= P(12167/8000-1)

= P(12167×8000/8000)

= rs 4167/8000p

C.I- S.I= 283.50

283.50= p(4167/8000- 9/ 20)

28350/100 = p( 4167-3600/8000)

= p= 8000×567/567×2

p = rs 4000

hence, the sum is rs 4000.

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