Question

the simple interest on a certain sum for 3 years is rs 240 and the compound intetest on the same sum for 2 year is rs 163.2 . find the sum and the rate of interest.​

Answer 1

Answer:

S.I. for 1 year= 240÷3 =Rs.80= C.I. for 1 year

C.I. for 2 years =Rs.170

C.I. for 1 year+C.I for 2nd year =Rs.170

C.I. for 2nd year=170−80=Rs.90

∴ Interest on Rs. 80 for one year=90−80=Rs.10

∴ Rate of interest= 80÷10 ×100=12½%