Question

A man deposited rs18000 in a bank for one year to earn interest. If the same interest is to be warned in 8 months at the same rate, what sum should be deposited by him

Answer 1

SI=ptr/100 and X be the rate of interest

i.e., SI=18000*1*x/100

Let p be the principle amount which he deposited for 8 months

i.e., 18000x/100=p*(8/12)*x/100

on solving htis we get x=27000/- which must be deposited for 8 months.