Question

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

Answer 1

Let the sum be P
SI = PTR/100=P*3*15/100=45P/100=9P/20
CI = A-P=P (1+R/100)^n-P=P (1+15/100)^3-P
=P (115/100)^3-P
=P (23/20)^3-P
So by question CI-SI = 283.50
or P ((23/20)^3-1)-9P/20=P ((23/20)^3-1-9/20)=283.50
or P= 283.50/((23/20)^3-29/20)
or P = 4000 (ans)

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