Question

What sum of money lent out at. 6% pa for 5/2 years will produce the same intrest as ₹12000 lent out at 5%for 7/2 years

Answer 1

let the amount be x

5% of 12000=600

7/2 yrs would be 600*7/2=2100

so x amount for 5/2 yrs at 6% would be

0.06x*5/2=2100

0.03x=2100/5

x=2100/(5*0.03)

x=14000