Question

40. What sum of money lent at 2% per annum under
S.I. will yield the same interest in 3 years as 3600
yields in 7 years at the rate of 3% per annum S.I.?​

Answer 1

Step-by-step explanation:

sum is considered as x

rate of interest is 2% per annum

time is 3 years

if the sum is x and the amount paid after 3 years at 2% rate per annum is 3600, then 3600 is x +(2% × 3)

3600 is x+(6)

CONSIDER x AS 100 % OF IT

therefore the equation would be

3600 is 100 % + 6%

3600 is 106 %

If 3600 is 106% then 100% is

WE CONSIDERED x AS 100%

THEREFORE x is

3600×100

= _____________

106

3600

= ________

106

= 3396.22 is the sum

principal amount is 3396.22

rate of Interest is 3% per annum

time is 7 years

Therefore the interest is (P×R×T)÷100

(339622×3×7)÷100×100 ( DUE TO TWO DECIMAL POINTS)

7132062 ÷ 10000

713.2062 is the interest.

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