Question

if the difference of simple interest on a certain amount of money for 4%for five years and 5%for 4 years is. Rs. 28. find the sum​

Answer 1

96000

Explanation:

N=4years

R=4 %

We have S.I.=

100

PNR

=

100

P×4×4

=

100

16P

=0.16P

And on interest being compounded for 3 years and R=5 %, Amount=P(1+

100

R

)

N

=P(1+

100

5

)

3

=P×(1.05

3

)=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