Question

what sum of money lent out at 4.5% p.a. for 3 years will produce the same interest as the sum 4500 rupees lent out at 3% p.a. for 2.5 years​

Answer 1

Answer:

Example 1: If Rs. 4000 is invested at 8% p.a. simple interest for 5 years, find the interest.

Sol: simple interest formula: 4000 × 8 × 5/100 = Rs. 1600

Example 2: If Rs 16,000 is invested at 12 percent simple annual interest, how much interest is earned after 6 months?

Sol: Since the annual interest rate is 12 %, the interest for 6 months is (16000x12x6)/12x100 = Rs. 960.