Question

The simple interest on a sum of money for 2 years at 8% is Rs 120 less than the simple interest on the same sum for 3 years at 12%. Find the sum.

Explain it ​

Answer 1

Let the Sum be principal ( p )

( P ) principal = P

( T ) time = 2 years

( R) Rate of interest = 8%

S•I = ?¿

$= > si = \frac{p \times r \times t}{100}$

$= > si = \frac{p \times 2 \times 8}{100}$

$= > si = \frac{16p}{100} .............1$

( p ) principal = p

( T ) Time = 3 years

( R ) Rate of interest = 12%

S•I =?¿

$= > si = \frac{p \times 12 \times 3}{100}$

$= > si = \frac{36p}{100} ...............2$

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As given in the question: SI on 1st term is less than SI on 2nd term by Rs 120

=> SI 2 - SI 1 = Rs 120

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$= > \frac{36p}{100} - \frac{16p}{100} = 120$

$= > \frac{20p}{100} = 120$

$= > 20p = 100 \times 120$

$= > p = \frac{12000}{20}$

$= > p = 600$

Answer = 600 rupees is the principal

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