Question

The simple interest on a certain sum of money at 5%p.A.For8years is rs.840.At what rate of interest the same amount of interest can be received on the same sum after5 years?

Answer 1

Step-by-step explanation:

Principal=x

Time=8 years

Rate=8%p.a.

Interest = 840

⇒S.I.=  $\frac{PTR}{100}$

⇒840 =$\frac{8x X 8}{100}$

⇒$\frac{840 X 100}{64}$=x

⇒1312.5=x

If the same is for 5 years

S.I.=  $\frac{PTR}{100}$

    =$\frac{5 X 1312.5 X 5}{100}$

    =328.12

∴The amount after 5 years is Rs(1312.5 + 328.12)=Rs 1640.62