Question

A sum of money is invested for 3 years at the rate of 11% per annum. If it is invested for 5 years,the interest increases by Rs.5500. Find the sum of money (answer in answer key is Rs. 25000) please verify the answer and than send it to me otherwise i will not get the proper solution and my points will be wasted please answer correctly because i m having maths exam after 2 days pleaseee

Answer 1

good luck for your exam

Answer 2

The sum of money is Rs. 25000.

Step-by-step explanation:

Let P be the sum.

Rate of interest = 11%

Time = 3 years

If the time period = 5 years

Interest is increased by Rs. 5500.

According to question, it becomes,

$\dfrac{P\times 11\times 5}{100}-\dfrac{P\times 11\times 3}{100}=5500\\\\\dfrac{55P}{100}-\dfrac{33P}{100}=5500\\\\\dfrac{22P}{100}=5500\\\\P=\dfrac{5500\times 100}{22}\\\\P=25000$

Hence, The sum of money is Rs. 25000.

# learn more:

What is the compound interest on a sum for Rs 25000 after 3 years at the rate of 12% per annum

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