Question

the simple interest on certain sum of money for 1.5 year at 18%p.a is 60 less than the simple inerest on same sum for 2.5 years at 12% pa .find the sum

Answer 1

Let the sum be x.

SI-1 = x * 1.5 *18 / 100 = 27x/100

SI-2= x * 2.5 *12 / 100 = 30x/100

Therefore, (30x– 27x)/100 = 60

Solving which gives x, sum = 2,000.