Question

A simple intrest on a given sum of money for 2 years could have been 240 rs more,had the rate of intrest per annum been 3% higher.Find the intial sum invested.

Answer 1

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Given:

Simple interest more than 1% the simple interest increased = Rs. 240

Time = 2 years

Concept used:

S.I. = (P × R × T)/100

Calculation:

S.I. = (P × R × 2)/100      ----(1)

S.I. = [P × (R + 1) × 2]/100      ----(2)

Equation (1) subtract from equation (2)

[P × (R + 1) × 2]/100 – (P × R × 2)/100 = 240

⇒ P[(R + 1) × 2 – (R × 2)]/100 = 240

⇒ P(2R + 2 – 2R) = 240 × 100 

⇒ P × 2 = 24000

⇒ P = 24000/2

⇒ P = 12000

∴ The principal lends on simple interest for two years is Rs. 12000.

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$\huge\mathfrak\red{Thanks}$

I hope it will help you.