Simple interest on a certain sum at the rate of 4.5% p.a. for 4 years and 6 years differs by BDT 216. The sum is-
Created: 1 year ago |
Updated: 9 months ago
Let the principal amount be P.
According to the question, the simple interest for 4 years and 6 years at 4.5% per annum are:
SI(4 years) = (P × 4 × 4.5) / 100 = 0.18P
SI(6 years) = (P × 6 × 4.5) / 100 = 0.27P
The difference between the two interests is given as BDT 216. Therefore, we can write:
SI(6 years) - SI(4 years) = 0.27P - 0.18P = 0.09P = 216
Solving for P, we get:
P = 216 / 0.09 = 2400
Hence, the principal amount is BDT 2400.
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