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  1. The compound interest on a certain sum of money at 5% per annum for 2 years is ₹ 246. The simple interest on the same sum for 3 years at 6% per annum is








  1. View Hint View Answer Discuss in Forum

    Let principal be P.
    Given that , Compound Interest ( CI ) = ₹ 246 , Rate ( R ) = 5% , Time = 2 years
    Using the given formula ,

    C.I. = P 1 +
    R
    		T − 1
    100

    246 = P 1 +
    5
    		2 − 1
    100

    ⇒ 246 = P
    21
    		2 − 1
    20

    ⇒  246 = P
    441 − 400
    400

    ⇒  246 =
    41P
    		 ⇒  P =
    246 × 400
    40041

    ∴ P = ₹ 2400
    Now , Rate ( R ) = 6% , Time = 3 years

    Correct Option: D

    Let principal be P.
    Given that , Compound Interest ( CI ) = ₹ 246 , Rate ( R ) = 5% , Time = 2 years
    Using the given formula ,

    C.I. = P 1 +
    R
    		T − 1
    100

    246 = P 1 +
    5
    		2 − 1
    100

    ⇒ 246 = P
    21
    		2 − 1
    20

    ⇒  246 = P
    441 − 400
    400

    ⇒  246 =
    41P
    		 ⇒  P =
    246 × 400
    40041

    ∴ P = ₹ 2400
    Now , Rate ( R ) = 6% , Time = 3 years
    ∴  SI =
    Principal × Time × Rate
    100

    SI =
    2400 × 3 × 6
    		 = ₹ 432
    100

  1. The simple interest and compound interest (compounded annually) on a certain sum of money with a given rate for a period of 2 years are ₹ 900 and ₹ 954 respectively. The sum of money is








  1. View Hint View Answer Discuss in Forum

    Here , CI for two years = ₹ 954 and SI for two years = ₹ 900
    As per the given in question ,
    Difference of CI and SI for two years = ₹ (954 – 900) = ₹ 54

    Rate =
    2 × Difference × 100
    Simple interest

    Rate =
    2 × 54 × 100
    		 = 12%
    900

    ∴  Sum = Difference in CI and SI ×
    100
    		2
    Rate

    ⇒   Sum = 54 ×
    100
    		2
    12

    Sum = 54 ×
    25
    		 ×
    25
    		 = ₹ 3750
    33

    Second Method to solve this question :
    C.I. = Rs. 954 , S.I.= Rs. 900 , P = ?
    C.I.= S.I.1 +
    R
    200

    954 = 9001 +
    R
    200

    954
    		 = 1 +
    R
    900200

    954
    		 − 1 =
    R
    900200

    Correct Option: D

    Here , CI for two years = ₹ 954 and SI for two years = ₹ 900
    As per the given in question ,
    Difference of CI and SI for two years = ₹ (954 – 900) = ₹ 54

    Rate =
    2 × Difference × 100
    Simple interest

    Rate =
    2 × 54 × 100
    		 = 12%
    900

    ∴  Sum = Difference in CI and SI ×
    100
    		2
    Rate

    ⇒   Sum = 54 ×
    100
    		2
    12

    Sum = 54 ×
    25
    		 ×
    25
    		 = ₹ 3750
    33

    Second Method to solve this question :
    C.I. = Rs. 954 , S.I.= Rs. 900 , P = ?
    C.I.= S.I.1 +
    R
    200

    954 = 9001 +
    R
    200

    954
    		 = 1 +
    R
    900200

    954
    		 − 1 =
    R
    900200

    954 − 900
    		 =
    R
    900200

    54
    		 =
    R
    92

    ∴ R = 6 × 2 = 12%
    Now S.I. =
    P × R × T
    100

    900 =
    P × 12 × 2
    		 ⇒ P = Rs. 3750
    100