Question

What sum amounts to 6300 in 2 years 6 months at 5% per annum simple interest?

Answer 1

Answer:

(P×2×5/100)+P=6300

=P(10/100 +1)=6300

so, P=6300×10/11

=5727.7

Answer 2

The sum is Rs. 5600.

We have to find the sum which amounts to 6300 in 2 years 6 month at 5 % per annum simple interest.

Here,

• Time , T = 2 years 6 month = 2 years + 1/2 year = (2 + 1/2) years = 5/2 years
• rate , R = 5 % per annum.

Simple interest is given by,

S.I = P × R × T/100

∴ amount will be A = P + SI after T years.

A = P + SI

= P + P × R × T/100

= P(1 + RT/100)

here, A = 6300 Rs , T = 5/2 years , R = 5 % per annum

⇒6300 = P[1 + (5 × 5/2)/100] = P(1 + 1/8)

⇒6300 = 9P/8

⇒P = 5600

Therefore the sum is Rs. 5600.