Question

simran has a certain sum deposited in a bank at 5 % per annum.Rajat also have the same sum deposited in the bank at 9% per annum .The difference between annual interest received by both of them is 220.find the sum​

Answer 1

The difference between annual interest received by both Simran and Rajat is Rs. 220, then the sum is Rs. 5500.

Step-by-step explanation:

Required formula:

Simple Interest = $\frac{P*R*T}{100}$

The difference between annual interest received by both Simran and Rajat  is Rs. 220

Time period of deposit for bothe of them, T = 1 year

The rate of interest charged in Simran's bank = 5% p.a.

The rate of interest charged in Rajat's bank = 9% p.a.

Let the sum deposited by both Simran and Rajat be Rs. "P".

Therefore, according to the question and the using the above formula, we get

$\frac{P * 9 * 1}{100} - \frac{P * 5 * 1}{100} = 220$

⇒ 9P - 5P = 220 * 100

⇒ 4P = 22000

⇒ P = Rs. 5500

Thus, the sum deposited was Rs. 5500.

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