Question

₹ 4000 amount to ₹ 5000 in 8 years. In what time will ₹ 1600 amount to ₹ 2400 at the same simple interest rate ? $\left[3\text{Marks}\right]$

Answer 1

Principal (P) = ₹ 4000 ; Amount = ₹ 5000 , hence I = ₹ 5000 - 4000 = ₹ 1000

Let the rate be (R)
Time (n)= 8 years

I $=\frac{PTR}{100}$

$1000=\frac{4000\times 8\times R}{100}$

R $=\frac{25}{8}$ % $\left[1\text{Mark}\right]$
In the second case Given P = 1600 and Amount = ₹ 2400 , Hence I = ₹ 2400 - 1600 = ₹ 800

Let the time be n and rate of interest $=\frac{25}{8}$ %

$800=\frac{1600\times 25\times n}{100\times 8}$

$n=\frac{800\times 8\times 100}{1600\times 25}$

$n=16$ years $\left[2\text{Marks}\right]$