Question
The simple interest earned on a certain sum at 12% per
annum for 6 years is equal to 2/5 of the compound interest earned on ₹10,000 at 15% per annum, compounded annually for 3 years. Find the principal amount deposited at simple interest.Solution
P*12*6/100 = 2/5 of 10000*[(1 + 15/100) 3 -1]
P = 50000/9 * [(23/20) 3 -1]
P = (50000/9) * (4167/8000)
P = ₹2893.75
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