Question

A sum amounts to Rs. $2652$ in $6$ years at $5$% p.a simple interest
Find (a) the sum
(b) the time in which the same sum will double itself at same rate of interest

Answer 1

$\left(i\right)A=2652,T=6,R=5\%$

$A=P\left(\frac{100+TR}{100}\right)$

$P=\frac{A\times 100}{100+TR}$

$P=\frac{2652\times 100}{100+6\times 5}$

$P=\frac{2652\times 100}{130}$

$P=Rs.2040$

$\left(ii\right)P=Rs.2040,A=4080,R=5\%$

$I=A-P$

$I=4080-2040$

$I=2040$

$T=\frac{I\times 100}{PR}$

$T=\frac{2040\times 100}{2040\times 5}$

$T=20yrs$