Question

The difference between the compound interest and the simple interest on a certain sum of money at 15% per annum for 3 years is rupees 283 point 50 find the sum

Answer 1

you are asking the principal or sum of CI and SI

Answer 2

Answer:

The sum is Rs.4042.857

Step-by-step explanation:

Let the principal be x

Time = 3 years

Rate of interest = 15%

Formula : $A=P(1+r)^t$

$A=x(1+0.15)^3$

$A=1.520x$

Compound interest = Amount - principal = 1.520x- x=0.52x

Formula : $SI = \frac{P \times R \times T }{100}$

$SI = \frac{x \times 15 \times 3 }{100}$

$SI = 0.45x$

Now we are given that the difference between the compound interest and simple interest is Rs.283

$0.52x-0.45x=283$

$0.07x=283$

$x=\frac{283}{0.07}$

$x=4042.857$

Hence the sum is Rs.4042.857