CameraIcon
CameraIcon
SearchIcon
MyQuestionIcon


Question

what sum of money should be invested for 5 years at 8% p.a. to earn the same interest as Rs.3600 at 10% p.a. for 4 years


Solution

Simple Interest = SI = P x R x T /100

For the first case:

Principle Amount = P = Rs. 3600

Rate of Interest = R = 10%

Time = T = 4 years.

Simple Interest = SI = ?

So:

SI = (P x R x T) /100

SI = (3600x10x4)/100

SI = Rs.1440.

So the Simple Interest of the first case will be the Sinple Interest of the second case.

Then:

Principle Amount = P = ?

Rate of Interest = R = 8%

Time = T = 5 years

SI = Rs. 1440

So:

SI = (P x R x T) /100

1440 =( Px8x5)/100

40P = 144000

P = 144000/40 = Rs. 3600.
Answer is Rs. 3600


Mathematics

Suggest Corrections
thumbs-up
 
0


similar_icon
Similar questions
View More


similar_icon
People also searched for
View More



footer-image