Question

A sum of money invested at 8 per annum for simple interest amounts to rs12122 in 2 years. what will it amounts to in 2 years 8 months at 9 rate of interest?​

Answer 1

Answer:

the answer is 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,

According to the question,

A= 12122.

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,

Thus, the amount would be,

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

Answer 2

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