Question

The difference in simple interest and compound interest on a certain sum of money in 3 years at 10 % p.a. is Rs. 372. The sum is

Answer 1

Answer:

Rs. 12000

Step-by-step explanation:

Let us assume P= Rs. 1000. SI= Rs. 300, CI = Rs. 331

Difference = 331 - 300 = Rs. 31.

Applying the unitary method, the difference Rs. 372 is 12 times Rs. 31.

Therefore, the principle will also be 12 times of Rs. 1000 i.e. Rs. 12000.

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