Question

A certain amount of money was invested at 8% simple interest and
after 9 months an equal amount was invested at 10% simple
interest. Find the period in which the amount in each case
becomes Rs. 2,600. How much money was invested in each case?

Answer 1

Answer

SI=

100

P×r×t

12122=

100

P×8×2

12122=

100

P×116

P=Rs.10,450.

Now, for t=2

3

2

,r=9%

SI=

100

P×r×t

SI=

100

10450×9×(8/3)

=2058

Amount P+SI=10450+2058=Rs.12,958.