Question

A sum of money invested at 9%p.a amounts to rupees 1.160 in 5years. how much would it amount to in 7years at 11whole 1/2p.a?​

Answer 1

ANSWER

Simple Interest SI=

100

PNR

Also Amount A=P+SI

So, for four years,

2480−P=

100

P×4×R

-- (1)

And, for four years,

4080−P=

100

P×8×R

-- (2)

Subtracting eqn 1 from eqn 2, we get

=>1600=

100

4PR

=>PR=40,000

Substituting it in eqn 1, we get

2480−P=

100

4×40,000

=>P=Rs880