The compound and the simple interests on a certain sum at the same rate of interest for two years are Rs.11730 and Rs.10200 respectively. Find the sum.
A. Rs.18000
B. Rs.17000
C. Rs.18500
D. Rs.17500
E. None of these.
Explanation:
The simple interest for the first year is 10200/2 is Rs.5100 and compound interest for first year also is Rs.5100. The compound interest for second year on Rs.5100 for one year
So rate of the interest = (100 * 1530)/ (5100 * 1) = 30% p.a.
So P = (100 * 10200)/ (30 * 2) = Rs.17000