Question

years.
Simple interest on a certain sum of money for 3 years at 8% per annum is half the
compound interest on 24000 for 2 years at 10% per annum. Find the sum placed
on simple interest.​

Answer 1

CI of 2 yrs = 21%(successive rate) of 24K = 5040

SI = 5040/2 = 2520

P = 2520*100/3*8 = 10,500