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The difference between SI and CI for a certain sum at 15% rate of interest for 2 years is Rs. 360. What is the ratio between the difference between SI and CI for 2 years and the difference between SI and CI for 3 years at same rate of interest?

The difference between SI and CI for a certain sum at 15% rate of interest for 2 years is Rs. 360. What is the ratio between the difference between SI and CI for 2 years and the difference between SI and CI for 3 years at same rate of interest? Correct Answer 20 ∶ 63

Difference between SI and CI (D) = Rs. 360

Rate of interest (R) = 15%

Time period (T) = 2 years

We know that ∶

D = P(R/100)T

360 = P × (15/100)2

360 = P × 225/10000

P = Rs. 16000

Now, the difference for 3 years:

D = P × (R/100)2 ×

D = 16000 × (15/100)2 × (315/100)

D = 16000 × (225/10000) × (315/100)

D = Rs. 1134

Required ratio = 360 ∶ 1134 = 20 ∶ 63

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