the different between the compound interest and the simpel interest on a certain sum of money at 15% per annum for three is ruppess 283.50 find the sum
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(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
= P ((23/20)^3-1)-9P/20=P ((23/20)^3-1-9/20)=283.50
= P= 283.50/((23/20)^3-29/20)
P = 4000
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