Question

Rupees 5000 is lent out for 4 years at the rate of x % per annum simple interest and the interest so earned is equal to the interest on rupees 6000 for the same time at the rate of 5 % simple interest.Find the value of x​

Answer 1

Answer:

The value of x is 6.

Step-by-step-explanation:

For first simple interest,

• Principal ( P₁ ) = Rs 5000
• Time ( N₁ ) = 4 years
• Rate of interest ( R₁ ) = x %

For second simple interest,

• Principal ( P₂ ) = Rs 6000
• Time ( N₂ ) = N₁ = 4 years
• Rate of interest ( R₂ ) = 5 %

From the given condition,

First simple interest = Second simple interest

We know that,

Simple interest = ( Principal * Rate * Time ) / 100

⇒ ( P₁ * N₁ * R₁ ) / 100 = ( P₂ * N₂ * R₂ ) / 100

⇒ P₁ * N₁ * R₁ = P₂ * N₂ * R₂

⇒ 5000 * 4 * x = 6000 * 4 * 5

⇒ 5000x = 6000 * 5

⇒ x = 6000 * 5 / 5000

⇒ x = 6000 / 1000

⇒ x = 6

∴ The value of x is 6.