Question

What sum of money lent at 6.5% per annum will produce the same interest in 4years as ₹7500 produce in 6 years at 5% per annum?

Answer 1

p= rs. 7500
r= 5%p.a
t= 6 year
s.i= (7500×6×5)/100=2250

According to question
(2250×1000)/65×4= P
P= rs. 8653.84

Answer 2

Given,

The amount of interest generated for some amount of money lent at 6.5% per annum will produce same interest in 4years, is equal to the amount of interest generated for ₹7500 lent for 6 years at 5% per annum.

To find,

The amount of money that was lent at the rate of 6.5% per annum for 4 years.

Solution,

First of all we have to calculate the amount of interest for the ₹7500 ,

Interest = (Principal amount × Rate × Time)/100 = (7500×5×6)/100 = ₹2250

Now,let the amount of money lent in the first case = ₹x

So, interest = x×6.5×4/100 = ₹26x/100

Now, according to the data mentioned in the question,

26x/100 =2250

x = 225000/26

x = 8653.84

Hence,the amount of money is approximately ₹8653.84