Question

A invests Rs. 8000 and B invests Rs. 11000 at the same rate of interest per annum. If at the end of 3 years, B gets Rs. 720 more interest than A, find the rate of interest.

Answer 1

If at the end of 3 years, B gets Rs. 720 more interest than A, then the rate of interest is 8%.

Step-by-step explanation:

Required formula:

S.I. = $\frac{PRT}{100}$

A invested = Rs. 8000

B invested = Rs. 11000

Time period of investment for both A & B, T = 3 years

Let the rate of interest in both the investment be “R”% and the interest earned by A and B be denoted as “Ia” & “Ib” respectively.

Interest earned by A after 3 years:

Ia = $\frac{8000 * R * 3}{100}$ = 240R …… (i)

And,

Interest earned by B after 3 years:

Ib = $\frac{11000 * 3 * R}{100}$ = 330R …… (ii)

It is given that at the end of 3 years the interest earned by B is Rs. 720 more than the interest earned by A, so we can write the eq. as,

Ib = Ia + 720

⇒ 330R = 240R + 720 ……. [substituting values from (i) & (ii)]

⇒ 90R = 720

⇒ R = 720/90

⇒ R = 8%

Thus, the rate of interest is 8%.

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Answer 2

Answer:

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