Question

The Simple Interest on a sum of money for 5 years at 6% p.a. is Rs 120 more than the simple interest on the same sum at 5% p.a. for 4 years. Find the sum investedevery floor of a

Answer 1

Answer:

The simple interest on a sum of money for 5 years at 6% per annum is 120 rupees more than the interest on the same sum at 5% perannum for 4 years. What is the sum invested?

The simple Interest on a sum of mony for 5 years at 6% is,

I5=Ptr%

I5=P×5×6%

I5=0.3P

Interest for 4 years at 5% is

I4=P×4×5%

I4=0.2P

Given that I5−I4=120

⇒0.3P−0.2P=120

P(0.3−0.2)=120

0.1P=120

P=1200

Check

1200×5×6%=360

1200×4×5%=240

360−240=120