Question

9. In what time will the Simple Interest on 400 at 10% per annum be the same as the
Simple Interest on 1000 for four years at 4% per annum?

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Answer 1

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Let, after t years the simple interest on rs 400 at 10% per annum be the same as the simple interest on rs 1000 for four years at 4% per annum,

Since, The simple interest is,

Where, P is the principal amount,

r is the annual rate of interest,

t is the time ( In years ),

Thus, the simple interest on rs 400 at 10% per annum for t years,

While, the simple interest on rs 1000 for four years at 4% per annum

Hence,

40 t = 160

⇒ t = 4 years