Question

the simple interest on a sum of money at 7% is rupees 210 for 3 years simple interest on the same sum for 2 years at 6% will be what ​

Answer 1

Information provided with us :

First condition :

• Sum of money at 7% is rupees 210 for 3 years

Second condition :

• Same sum of rupees is there for 2 years at 6%.

What we have to calculate :

• Simple Interest?

Performing Calculations :

• Simple Interest = Principal × Rate × Time / 100

• Principal = 100 × Simple Interest / Rate × Time

Firstly we would be calculating the principal.

As we know that,

• P = 100 × S.I. / R × t

Here,

• P is Principal
• R is rate of interest
• S.I. is simple Interest

Substituting the values,

=> P = 100 × 210 / 7 × 3

=> P = 100 × 210 / 21

=> P = 21000 / 21

=> P = 1000

Therefore,

• Simple Interest is of Rs.1000

Now, calculating the simple Interest.

As we know that,

• S.I. = P × R × T / 100

Here,

• P is Principal
• R is rate of interest
• T is time

Substituting the values,

=> S.I. = 1000 × 6 × 2 / 100

=> S.I. = 12000 / 100

=> S.I. = 120

Henceforth,

• Simple Interest is of Rs.120