Question

A sum of money was invested at 8% per annum simple interest. If after 4 years the money amounts to 33,000, find the amount originally invested

Answer 1

Answer:

Let the principal = Rs x

Then, S.I. = Rs.

25

9

x

Amount =P+S.I.= x+

25

9

=

25

34x

Given,

25

34x

=306

⇒x=

34

306×25

=Rs225

⇒S.I.=

25

9

×225= Rs. 81

Now, P= Rs. 225,T=5 yrs, S.I. = Rs. 81,R=?

∴

P×T

S.I.×100

=

225×5

81×100

=

5

36

% p.a. =7

5

1

% p.a.