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Kaliyaperumal S R

· started a discussion

· 1 Months ago

Other way to find r (Question: 338598.0 )



SI = 200
-------- x CI
200+r

3000 = 200 x 3120
--------------- on solving we get r = 8%
200+r

Question:
The simple interest accrued on an amount at the end of three years is ₹4500.If the same amount was lent at the same rate of compound interest, interest being compounded annually, then the interest accrued on the amount would be ₹3120 by the end of two years. Find the amount?
Options:
A) ₹15,000
B) ₹16,000
C)

₹18,750

D) ₹19,250
E) None of these
Solution:

Let ‘p’ and ‘R’ be the amount and rate of interest respectively.

Given,

⇒ 3pr = 4500

Where r = R/100

∴ pr = 1500

⇒ p(1 + r)² = p + 3120

⇒ p + 2pr + pr² = p + 3120

⇒ pr(2 + r) = 3120

∴ 2 + r = 2.08

⇒ r = 0.08

∴ R = 8% p.a.

∴ P = 1500/8× 100

⇒ P = ₹18,750

Knowledge Expert

· commented

· 1 Months ago

Dear Student, Please read the text given very carefully, its correct. Keep Learning with Us Best Wishes Team Toprankers

Gracia esther

· commented

· 1 Months ago

how did you find s.i as 3000??
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