If the compound interest on a certain sum at 162/3% for 3 years is ₹1270, find the simple interest on the… · ABC26GN4130
Subject: General Aptitude · Chapter: Compound Interest
If the compound interest on a certain sum at $16\frac{2}{3}\%$ for 3 years is ₹1270, find the simple interest on the same sum at the same rate and for the same period.
Answer
No answer key was printed for this question.
Explanation
Let the sum be ₹x. Then, C.I. $=\left[x \times\left(1+\frac{50}{3 \times 100}\right)^{3}-x\right]=\left(\frac{343x}{216}-x\right)=\frac{127x}{216}$. ∴ $\frac{127x}{216}=1270$ or $x=\frac{1270 \times 216}{127}=2160$. Thus, the sum is ₹2160. ∴ S.I. $=₹\left(2160 \times \frac{50}{3} \times 3 \times \frac{1}{100}\right)=₹1080$.
Explanation as extracted from the printed page; notation may be imperfect.