A sum of money is lent at a certain rate of interest at compound interest. If, instead the same amount was lent at simple interest the interest for the first two years reduces by Rs.160 and that for the first three years reduces by Rs.488. Find the sum

  • Option 1)

    Rs.22000

  • Option 2)

    Rs.46000

  • Option 3)

    Rs.52000

  • Option 4)

    Rs.64000

  • Option 5)

    Rs.46000

Answers (1)

B is the difference B/w 2 years of interest So B = 160

Difference B/w 3 years of C.I and S.I

= 3B+C = 488

160 \times 3 + C = 8

C is calculated on 8

=rate=\frac{8}{160}\times 100= 5\: ^{0}/_{0}

A = \frac{160}{5} \times 100 = 3200

P= \frac{3200}{5} \times 100

P = 64000 Rs.

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