Dinesh invests a certain amount at a certain rate for 3 years and gets an amount of 7965 rupees. If he invests the same amount at the same rate for 11 by 2 , he will get an amount of 8977.50. calculate the sum he invests and the rate.
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the sum he invests = Rs 6750 & Interest Rate = 6 % pa if he geats 7965 Rs afte 3 years & 8977.5 after 11/2 years
Step-by-step explanation:
Let say Certain Amount = P
Rate of interest = r
After 3 Years he gets 7965
=> P + P * r * 3/100 = 7965
=> P + 3Pr /100 = 7965
After 11/2 Years he gets 8977.5
=> P + P * r * 11/200 = 8977.5
=> P + 11Pr /200 = 8977.5
=> 11Pr /200 - 3Pr /100 = 8977.5 - 7965
=> Pr = 40500
P + 3Pr /100 = 7965
=> P + 3 * 40500/100 = 7965
=> P = 6750
Pr = 40500
r = 40500/6750 = 6
the sum he invests = Rs 6750
Interest Rate = 6 % per annum
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