Question

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

Answer 1

P = x
R = 8%
T = 2 years
SI = P * R * T / 100
= x * 8 * 2 / 100
= 4x / 25
A = P + SI
= x + 4x / 25
= 29x / 25
But Amount = ₹ 12122
29x / 25 = 12122
x = 12122 * 25 / 29
= ₹ 10450
To find the amount after 2 years 8 months
P = ₹ 10450
R = 9%
T = 2 years 8 months
= 8/3 years
SI = P * R * T / 100
= 10450 * 9 * 8 / 100 * 3
= ₹ 2508
A = P + SI
= 10450 + 2508
= ₹ 12958

Answer 2

Answer:

The amount would be 12,958.

Step-by-step explanation:

Let the sum be P,

Here, the annual rate of interest = 8 %,

Time, t = 2 years,

Thus, the amount after 2 years,

$A=P+\frac{P\times 8\times 2}{100}$

$A=P+\frac{16P}{100}$

$A=P+\frac{4P}{25}$

$A=\frac{29P}{25}$

According to the question,

A= 12122.

$\implies \frac{29P}{25}=12122\implies P = \frac{303050}{29}=10450$

So, the sum is 10450.

Now, if annual rate of interest = 9 %,

Let time = 2 years 8 months = 2 years + 2/3 years = 8/3 years,

Thus, the amount would be,

$A=10450+\frac{10450\times 9\times 8/3}{100}=10450+\frac{752400}{300}=10450+2508=12,958$