Question

at what simple interest rate should P10,000 be invested in order to
have a final amount of 12,500 in 9 months​

Answer 1

Question :- At what simple interest rate should P10,000 be invested in order to have a final amount of 12,500 in 9 months ?

Solution :-

we know that, when rate is at simple interest ,

• SI = (P * R * T)/100
• A = P + SI .

Let us assume that, rate of interest is R% per annum.

then,

• P = P10,000
• R = R% per annum.
• T = 9 months = (9/12) = (3/4) year.
• SI = A - P = 12500 - 10000 = P25,00 .

so,

→ SI = (P * R * T)/100

→ 2500 = (10000 * R * 3) / (100 * 4)

→ 2500 = 25 * R * 3

→ 100 = 3R

→ R = (100/3) = 33.33% .

Hence, Required simple interest rate should be 33.33% per annum.

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