Rupees 20000 amounts to Rupees 25000 at a certain rate of interest per annum. In what time will rupees 5528 amount to rupees 11056 at the same rate?
Answers
Answer:
In 8 years, Rs. 5528 will amount to Rs. 11056 at the same rate (12.5%)
Given :
Rs.20000 amounts to = Rs 25000
In = 2 years
To find :
Time in which Rs. 5528 amount to Rs. 11056 at the same rate of interest.
Solution :
Case I
We need to find the Rate of interest.
Here,
Principal (P) = Rs.20000
Amount = Rs.25000
Time (T) = 2 years.
SI = Amount - Principal
⇒25000−20000
⇒5000
Simple Interest (SI) = Rs.5000
We know that,
SI = Principal × Rate× Time/100
⟹ 5000 = 20000 × 2 × R/100
⟹ 5000× 100 = 40000× R
⟹500000=40000×R
⟹R=500000/ 40000
⟹ R = 50/4
⟹ Rate = 12.5%
Case II
We have to find the time.
Here,
Principal (P) = Rs. 5528
Amount = Rs.11056
Rate (R) = 12.5 % (from above)
SI = Amount - Principal
⇒11056−5528
⇒5528
We know that,
SI= Principal×Rate×Time/100
⟹5528= 5528×12.5×t / 100
⟹5528×100=69100×T
⟹552800=69100×T
⟹T= 552800/ 69100
⟹T=8
⟹ time = 8 years