Question

Q7)In how much time will the simple interest on Rs. 3,500 at the rate of 6% per annum be the same as simple interest on Rs. 4,000 at 10.5% per annum for 4 years

Answer 1

ATQ

(3500×6× t)/100 =(4000 ×10.5 ×4)/100

35×6×t =4×105×4

t= 8 years