Question

a sum of money becomes 3 times in 5 years and becomes rs 960 in 6 years .find the sum.

Answer 1

Answer:

Rs 282.35

Step-by-step explanation:

Assuming simple interest rate = r % per annum

Let say sum = P

Interest for 5 year = P*r*5/100 = Pr/20

Amount after 5 year = P + Pr/20

3P = P + Pr/20

2P = Pr/20

r = 40 %

Interest for 6 years = P  * 40 * 6 /100 = 2.4P

amount after 6 years = P + 2.4P = 3.4P

3.4P = 960

P = 960/3.4

P = 282.35