Question

A sum of money invested at 8% per annum for simple interest amounts to 12122 in 2 years. what will it amounts to in 2 year 8 months at 9% rate of interest

Answer 1

We know that A = P(1+rt/100)

                      12122 = P(1+16/100)

                      P = 10450.

After 2 years 8 months, it will be 10450 * (1 + 8/3 * 9/100)

                                                     = 10450 * 124/100

                                                     = 12958.

Answer 2

Answer:

Rs.12958

Step-by-step explanation:

Rate of interest = 8%

Simple interest = Rs.12122

Time = 2 years

Amount = 12122

SI = Amount - Principal = 12122 -

$SI = \frac{P \times R \times T }{100}$

$12122-x= \frac{x \times 8 \times 2}{100}$

$x=10450$

Principal = 10450

Time = 2 years 8 months =$2+\frac{8}{12} = \frac{8}{3}$

Rate of interest = 9 %

SI = $\frac{10450 \times 9 \times \frac{8}{3}}{100}$

SI = $2508$

Amount = Principal +Simple interest

Amount = 10450+ 2508

Amount = Rs.12958

Hence The amount is Rs.Rs.12958