In how much time will the SI on ₹2,000 at the rate of 8% p.a. be the same as the SI on ₹4,000 at the rate of 12% for 3 years?
Answers
Solution!!
There are two cases given in the question.
First case
Principal (P) = Rs 2000
Rate of interest (R) = 8%
Second case
Principal (P) = Rs 4000
Rate of interest (R) = 12%
Time (T) = 3 years
We will find the interest in the second case. The interest in the second case will also be the interest in the first case. We have to find the time in the first case. So, let's do it!!
Second case
Principal (P) = Rs 4000
Principal (P) = Rs 4000Rate of interest (R) = 12%
Principal (P) = Rs 4000Rate of interest (R) = 12%Time (T) = 3 years
Interest = (P × R × T)/100
Interest = (4000 × 12 × 3)/100
Interest = 40 × 12 × 3
Interest = Rs 1440
First case
Principal (P) = Rs 2000
Principal (P) = Rs 2000Rate of interest (R) = 8%
Interest = Rs 1440
Interest = (P × R × T)/100
1440 = (2000 × 8 × T)/100
1440 × 100 = 2000 × 8 × T
144000 = 2000 × 8 × T
144000 = 16000 × T
144000/16000 = T
144/16 = T
9 = T
Time (T) = 9 years
The interest on ₹2,000 at the rate of 8% p.a. will be the same as the interest on ₹4,000 at the rate of 12% for 3 years in 9 years.