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 283.5 find the sum​

Answer 1

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Step-by-step explanation:

Given CI−SI $=Rs.283.50$

$R=15%$

$n=3$ years

Let the sum be Rs.x

We know that : A= $(1 + \frac{R}{100} )^{n}$

$A = (1 + \frac{5}{100} )^{3} = x(1.15) ^{3}$ ---------------(i)

Also,Si $= \frac{PRn}{100} = \frac{x \times 15 \times 3}{100} = 1.45x$ ------------------------ (ii)

Thus,we have

$x(1.15)^{3} - 1.45x = 283.50$. (from 1 and 2 )

$= 1.523 - 1.45x = 283.50$

$= 0.070875x = 283.50$

$x = \frac{283}{0.070875 } = 4000$

Thus,the sum is 4000

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