The simple interest on a certain sum for 8 months at 4% simple interest is Rs 129 less than the simple interest on the same sum for 15 months at 5% per annum. Then the sum is ?
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Answer:
₹3600
Explanation:
Let's say that the sum is x
Then, simple interest on x for 8 months at 4% is 129 less than the simple interest on x for 15 months at 5% per annum.
Case (i) :-
Simple interest is given by :-
Where,
- p(principal) = x
- r(rate) = 4%
- t(time) = 8 months or, 2/3 years.
So,
Case (ii) :-
Calculating simple interest on,
- p = x
- r = 5%
- t = 15 months or, 5/4 years.
So,
According to the question,
The amount is less than by 129.
Equation forms :
∴ The sum is ₹3600
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