Question
The difference between the compound interest and simple
interest on a certain sum for 2 years at 10% per annum is Rs. 72. Find the simple interest on the same sum at the same rate for 3 years.Solution
ATQ, For 2 years: CI − SI = [P × (r²/100²)] ⇒ 72 = P × (10² / 10000) = P × (100 / 10000) = P/100 So P = 72 × 100 = 7,200 SI for 3 years = [(P × r × t)/100] = [(7200 × 10 × 3)/100] = 2,160.
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