If the compound interest on a certain sum at 16 (2/3)% to 3 years is Rs.1270, find the simple interest on the same sum at the same rate and f or the same period.
1080
1089
2345
1908
Correct Answer :
A. 1080
Let the sum be Rs. x. Then,
C.I. = [ x * (1 + (( 50/(3*100))3 - x ] = ((343x / 216) - x) = 127x / 216
127x /216 = 1270 or x = (1270 * 216) / 127 = 2160.
Thus, the sum is Rs. 2160
S.I. = Rs ( 2160 * (50/3) * 3 * (1 /100 ) ) = Rs. 1080.