Question

Q3.Venkatesh invested a certain sum of money in a bank that paid simple
interest. The amount grow to Rs. 2400 at the end
of 2 years. He waited for another 3 years and
received a final amount of Rs. 30,000. What was
the principal amount that he invested at the
beginning?
A) Rs. 20,000
B) Rs. 15,000
C) Rs. 17,500
D) Rs. 21,000​

Answer 1

Answer:

Venkatesh invested a certain sum of money in a bank that paid simple

interest. The amount grow to Rs. 2400 at the end

of 2 years. He waited for another 3 years and

received a final amount of Rs. 30,000. What was

the principal amount that he invested at the

Answer 2

Answer:

The correct option is A) Rs. 20,000

Step-by-step explanation:

Let P be the principal amount and r be the annual simple interest rate,

Since, the amount formula in simple interest,

$A=P+\frac{P\times r\times t}{100}$

Where,

t = number of years,

Here, A = 24000, if t = 2 years,

$\implies 24000 = P + \frac{2Pr}{100}----(1)$

Similarly, A = 30,000 if t = 5 years,

$30000 = P + \frac{5Pr}{100}----(2)$

5 × equation (1) - 2 × equation (2),

$120000 - 60000 = 5P - 2P$

$60000 = 3P$

$P = \frac{60000}{3}=20,000$

#Learn more :

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