The difference between the compound interest and simple interest on a certain sum at 15% per annum for 3 years is Rs. 283.50. Find the sum.

Question

Philoid · Accepted Answer

Given,

Rate = 15 % p.a

Time = 3 years

C.I – S.I = Rs.283.50

Let principal = P

So,

=

Hence,

Principal = Rs. 4000