the rate of simple interest on an amount of money is 6% per annum for first two years 9% per annum for next 5 years and 13 % per annum for the period beyond 7 years if the total interest on the sum at the end of 10 years is 7680 what is the sum?
Answers
The sum of money is Rs. 8000.
Step-by-step explanation:
The formula required for solving the given question:
- Simple Interest = [P x R x T] / 100 ….. (i)
Let the sum of money be denoted as “P”.
We are given that,
Total Time period = 10 years
The sum of money is given on simple interest as follows:
6% p.a. for the first 2 years
9% p.a. for the next 5 years
13% p.a. for the period beyond 7 years i.e., for (10 - 7) = 3 years
The total interest on the sum of money at the end of 10 years = Rs. 7680
Now, according to the question and based on the formula in (i), we get
7680 = [(P*6*2)/100] + [(P*9*4)/100] + [(P*13*3)/100]
⇒ 7680 = [0.12P] + [0.45P] + [0.39P]
⇒ 7680 = 0.96P
⇒ P = 7680/0.96
⇒ P = Rs. 8000 ← the sum of money
----------------------------------------------------------------------------------------
Also View:
A certain sum of money was lent under the following repayment scheme based on Simple Interest: 8% per annum for the initial 2 years 9.5% per annum for the next 4 years 11% per annum for the next 2 years 12% per annum after the first 8 years Find the amount which a sum of ` 9000 taken for 12 years becomes at the end of 12 years.
https://brainly.in/question/12969033
An amount of rs.16100 is earned when a certain sum is invested for 3 years in scheme-A offering simple interest @ 5 p.a. How much more interest will be earned if the same sum were invested for 2 years in scheme-B offering simple interest @ 8 p.a. ?
https://brainly.in/question/15113567
Sangram invests certain sum for 2 years in scheme P offering compound interest of 20% per annum. He also invests less than previous by Rs. 1600 in scheme Q for 3 years offering simple interest at 10% per annum. The interest received from scheme P was twice the interest received from scheme Q. what is the sum of money invested by Sangram in scheme Q?
https://brainly.in/question/15430793
Answer:
₹8000 is the perfect answer..for better understanding check this image out
Step-by-step explanation:
let the sum be P
rate of interests given-6% for 2 years
9% for 5 years
13% for seven years beyond the total time period given(10-7=3years)
total time 10
S.I ₹7680
A.T.Q
S.I×R×T/100
=P*6*2/100+P*9*5/100+P*13*3/100=7680(change to decimal)
=0.12P+0.45P+0.39P=7680
=0.96P=7680
=P=7680*100/096
=₹8000
