Question

16. What sum of money lent out at simple interest at 10% per annum for 15 years will produce the same interest as Rs. 500 lent at 5% per annum for 6 years?​

Answer 1

Answer:

$In second case, Principal (P) = Rs. 900$

Rate (R) = 4%, Time (T) = 5 years

∴SI=\frac{PRT}{100}=\frac{900\times4\times5}{100}=180Rs.∴SI=

100

PRT

=

100

900×4×5

=180Rs.

In first case, SI = Rs. 180

Rate = 5%, Time = 3 years

∴ Sum = \frac{SI\times100}{R\times T}=\frac{180\times100}{3\times5}=Rs.1200

R×T

SI×100

=

3×5

180×100

=Rs.1200