Question

A sum of money invested at 9% per annum simple interest amounts to 3 37760 in 2
years. What will it amount to in 3 years at 10% per annum?​

Answer 1

Let the sum be rs. 100. Then,

P = rs. 100, R = 9% p.a. and T = 2 years.

Therefore. S.I. = P × R × T/100 = rs. ( 100 × 9 × 2/100) = rs. 18.

Therefore, amount = rs. (100 + 18) = 118.

If amount is rs. 118, then sum = rs. 100.

If amount is rs. 1, the sum = rs. (100/118).

If amount is rs. 37760, then sum = rs. (100/118 × 37760) = rs. 32000.

Now, sum = rs. 32000, rate = 10% p.a. and time = 3 years.

Therefore, S.I. = (3200 × 10 × 3) = rs. 9600.

Required amount = rs. (3200 + 9600) = rs. 41600.

Have a wonderful day...