At a certain rate of simple interest, Rs 10000 becomes Rs 12400 in 3 years. What sum of money will become Rs 9100 in 5 years at the same rate of interest?
Answers
Answer:
7500
Step-by-step explanation:
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Given :- At a certain rate of simple interest, Rs 10000 becomes Rs 12400 in 3 years.
To Find :- What sum of money will become Rs 9100 in 5 years at the same rate of interest ?
Solution :-
Case 1) :-
Let us assume that, rate of interest is R% per annum .
So,
→ Principal = P = Rs. 10000
→ Rate = R% per annum
→ Time = T = 3 years
So,
→ Simple interest = SI = (P × R × T)/100 = (10000 × R × 3)/100 = 300R
then,
→ Amount = A = P + SI = 10000 + 300R
A/q,
→ 10000 + 300R = 12400
→ 300R = 12400 - 10000
→ 300R = 2400
→ R = 8% per annum .
Case 2) :-
Let principal is Rs. P.
So,
→ Principal = Rs. P
→ Rate = R = 8% per annum
→ Time = T = 5 years
So,
→ Simple interest = SI = (P × R × T)/100 = (P × 8 × 5)/100 = Rs. (2P/5)
then,
→ Amount = A = P + SI = P + (2P/5) = Rs. (7P/5)
A/q,
→ (7P/5) = 9100
→ 7P = 9100 × 5
→ 7P = 7 × 1300 × 5
→ P = 1300 × 5
→ P = Rs. 6500 (Ans.)
Hence, the required sum of money is equal to Rs. 6500 .
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