Question

the difference between the compund interest and the simple interest on a certain sum of money at 15% per annum for 3 year is ₹283.50 . Find the sum​

Answer 1

Answer:

Rs 4000

Step-by-step explanation:

Let the principal be "p".

Rate of interest = 15%

Time = 3 years

So the Simple Interest = (p × 15 × 3)/100

                                     = 9p/20

And the compound interest = p(1 + 15/100)^3 - p

                                              = p{(1 + 3/20)^3 - 1}

                                              = p(4167/8000)

Now, p(4167/8000) - p(9/20)  = 283.50

    or, p{567/8000}                  = 283.50

    or, p                                     = 4000

So, the principle is Rs 4000.

Answer 2

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