Ques.3. What sum of money lent out at 6.25% per annum simple interest will produce 126 as interest in 15 years?
Ques.4. 800 is invested at 6% per annum. In how much time will it double itself?
(PLZZ give solution of both ques.
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Answer:
nterest=(Principle*Time*Rate of interest)/100
(P*8/12*6.25)/100=37.50
P*2/3*6.25=37.50*100
P*12.5/3=3750
P=3750*(3/12.5)
P=900
The sum of money lent out is Rs.900
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