The simple interest on a certain sum of money at 4% p.a. for 4 years is Rs. 67 more than simple interest on the same sum for 3 years at 5% p

Question

The simple interest on a certain sum of money at 4% p.a. for 4 years is Rs. 67 more than simple interest on the same sum for 3 years at 5% p.a. Find the sum of money.

in progress 0
Mackenzie 2 weeks 2021-09-14T01:19:01+00:00 1 Answer 0 views 0

Answers ( )

    0
    2021-09-14T01:20:55+00:00

    Answer:

    For ,

    N=4years

    R=4 % 

    We have S.I.=100PNR=100P×4×4=10016P=0.16P

    And on interest being compounded for 3  years and R=5 %, Amount=P(1+100R)N=P(1+1005)3=P×(1.053)=1.157625P

    So, C.I.=A−P=1.157625P−P=0.157625P

    Given, S.I.−C.I=Rs228

    =>0.16P−0.157625P=Rs228

    =>0.002375P=Rs228

    =>P=Rs96,000

Leave an answer

Browse
Browse

18:9+8+9*3-7:3-1*13 = ? ( )