Simple interest on an amount at 4% per annum for 13 months is more than the simple
interest on the same sum for 8 months at 6% per annum by Rs. 40. What is the principal
amount?
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Answer:
Rs 12000
Step-by-step explanation:
Interest for 13 months at 4%
Interest per year = 4%
interest per month = 4 ÷ 12 = 1/3 %
Interest for 13 months = 1/3 x 13 = 13/3 %
Interest for 8 months at 6%:
interest per year = 6%
interest per month = 6 ÷ 12 = 0.5%
interest for 8 months = 0.5 x 8 = 4%
Define x:
Let the principal amount be x
Solve x:
13/3% of x - 4% of x = 40
1/3 % of x = 40
1% of x = 120
100% of x = 120 x 100 = Rs 12000
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