Question

If a sum of money becomes 2926 in 1 year and 8 months at the simple interest
rate of 6.5% per annum, find the sum of money.​

Answer 1

Answer:Answer

Let the sum of money that's principal be x.

Time=8 years

Amount after 8 years becomes double=2x

Therefore,

Simple interest=Amount -principal=2x−x=x

Rate per annum =

P×T

S.I×100

​

=

x×8

x×100

​

=

8

100

​

=

2

25

​

=12.5%

Then,

We get interest of 8years is 12.5%

Step-by-step explanation:

Answer 2

Sum of money is Rs. 2640

Tips:

If P be the sum of money, t be the time, r% be the rate of simple interest per annum, then the interest I for that time is given by

$I=\dfrac{Ptr}{100}$

Step-by-step explanation:

Let, sum of money = P

Given, sum + interest = Rs. 2926

Then interest = Rs. (2926 - P)

Time (t) = 1 year 8 months

= 1 year + $\dfrac{8}{12}$ year

= 1 + $\dfrac{2}{3}$ year

= $\dfrac{5}{3}$ year

Rate of simple interest per annum = 6.5%

Then, interest (I) = $\dfrac{P\times \dfrac{5}{3}\times 6.5}{100}$

⇒ 2926 - P = $\dfrac{13}{120}P$

⇒ 351120 - 120P = 13P

⇒ 133P = 351120

⇒ P = 2640

So, required sum of money = Rs. 2640.

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