what sum of money invested at 7.5% per annum simple interest for 2 years produces twice as much interest as rupees 9600 in three years six months at 10% per annum simple interest
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CASE 1:
Principal, P1 = Rs 9600
Rate, R1 = 10% p.a
Time, T1 = 3yrs 6 months = 312yrs = 72yrs
Now, Interest, I1 = P1R1T1100
= 9600×10×7200
= Rs 3360
CASE 2:
Let the required sum = Rs PRate, R = 7.5% p.a. = 152%pa
time T = 2yrs
Now interest = PRT/100
3360= 15P/200
P = 44800
So, required sum = 44800
Principal, P1 = Rs 9600
Rate, R1 = 10% p.a
Time, T1 = 3yrs 6 months = 312yrs = 72yrs
Now, Interest, I1 = P1R1T1100
= 9600×10×7200
= Rs 3360
CASE 2:
Let the required sum = Rs PRate, R = 7.5% p.a. = 152%pa
time T = 2yrs
Now interest = PRT/100
3360= 15P/200
P = 44800
So, required sum = 44800
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