Question

The difference in simple and compound interests on a certain sum in 2 years at 15% per annum is rupees 144.What is the sum?

Answer 1

Answer:

Sum=6400

Step-by-step explanation:

Let sum of money be x,

In simple interest,

SI=P*R*T/100

∴SI=x*15*2/100

=3/10x

In Compound interest,

Amount=x(1+15/100)∧2

=529/400x

CI=529/400x-x

=129/400x

ATP,

CI-SI=144

∴(129/400)x-(3/10)x=144

=(129x-120x/400)=144  [∵L.C.M of 400,10=400]

=(9x/400)=144

x=(144*400)/9

∴x=6400 (ANSWER)