Question

on what sum of money will the interest at 5% p.a. for 4 years be the same as that on 2500 at 3% p.a. for 6 years ?​

Answer 1

Answer:

1st case,

Let the sum(P) = x

rate(R) = 5%

time(T) = 4 years

.•. Interest= PRT/100

= (x×5×4)/100

= 20x/100

= x/5

2nd case,

P= 2500/-

R= 3%

T= 6 years

.•. Interest= PRT/100

= (2500×3×6) /100

= 25×3×6

= 450/-

A/Q, Interest in 1st case= Interest in 2nd case

=> x/5= 450

=> x= 450×5

=> x= 2250/-

.•. The sum is 2250/- .

Hope it may help you!!

Answer 2

Step-by-step explanation:

Let the sum of money = Rs.P

We have, Simple interest = PTR/100

Where P, T and R are the principal sum,

Time and Rate of interest respectively.

As per the question:

Interest on Rs. P at 5%pa for 4 years = Interest on Rs.2500 at 3%pa for 6 years ⇒ (P × 4× 5)/100

= (2500 × 6 × 3)/ 100 ⇒ 20P = 2500 × 6 × 3 ⇒ P

= (2500 × 6 × 3)/20 ⇒ P = Rs. 2250

∴ Required sum of money = Rs.2250

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