Question

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

Answer 1

Let the required sum be Rs. x

SI = P×R×T100=x×8×2100=16x100

Amount = P+ SI

= x + 16x100=100x+16x100=116x100

But the amount is Rs. 12122

⇒116x100=12122 ⇒x=12122×100116=10450

Amount in 2 years 8 months at 9% per annum will be:

SI = (P×R×T)/100=(10450×9×32)/100=>>>>Rs.2508

Amount = P+ SI

= Rs. 10450 + Rs. 2508

= Rs. 12958

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