Practicing Success
The difference between simple interest and compound interest of a certain sum of money at 10% per annum for 1\(\frac{1}{2}\) year is ₹244. Then the sum is: (Interest being compound half yearly) |
₹32000 ₹35000 ₹28000 ₹30000 |
₹32000 |
Rate of interest = 10% pa Rate of interest = 5% half yearly 5% = \(\frac{1}{20}\), Let Principal = Rs.8000/- Difference b/w C.I. and S.I. = 20 + 20 + 20 + 1 = 61 ATQ, 61R =244 1R = 4 Hence, Principal = 8000R = 8000 × 4 = Rs.32000/- |