Question

The simple interest on a sum of money for 2 years at 8% is rupees 120 less than the SI on the same sum for 3 years at 12% . find the sum?

Answer 1

Let the sum be P
then 1st SI
PRT/100= P*2*8/100= 16P/100
2nd SI :
P*12*3/100= 36P/100
according to the question
16P/100= 36P/100- 120
=> 16P/100-36P/100= -120
=> 20P/100= 120
=> P = 120* 100/20
=> P= 600