Question

What sum of money lent out at 5% for 3 year will produce the same interest as rupees 900 lent out at 4% for 5 years?

Rupees 1200

Rupees 1500

Rupees 2000

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Answer 1

Answer:

rupees 1200

Step-by-step explanation

In second case, Principal (P) = Rs. 900

Rate (R) = 4%, Time (T) = 5 years

∴ S.I. = P × R × T/100 = 900 × 4 × 5/100 = Rs. 180

In first case, S.I. = Rs. 180

Rate = 5%, Time = 3 years

∴ Sum = S.I. × 100/R × T = 180 × 100/5 × 3 = Rs. 1200

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