Question

Unit
7. A sum of money, invested with simple interest,
amounts to 223,400 in 5 years and to 26,640 in
8 years. Find the sum of money and the rate of
interest.​

Answer 1

Answer:

Let the principal be x

Case 1:

a sum of money invested with simple interest amount to rupees 23400 in 5 years

Amount = 23400

Time = 5 years

Simple interest = Principal - Interest = 23400-x

Formula :

---1

Case 2:

a sum of money invested with simple interest amount to rupees 26640 in 8 years

Amount = 26640

Time = 8 years

Simple interest = Principal - Interest = 26640-x

Formula :

--- 2

Equate 1 and 2

Hence The principal and Rate of interest is Rs.18000 and 6% respectively.

#Learn more:

A certain sum of money amounts to Rs 23400 in 3 years at 10% per annum simple interest.Find the amount of the same sum in 2 years and at 10% p.a. compound interest.