Question

What sum of money should be invested for five years at 8% per annum to earn the same interest as ₹3,600 at 10% per annum for four years?

Answer 1

let the sum of money (p) be x.
r=8% p.a
t=5yrs
therefore , interest=prt/100
=x×8×5/100
=40x/100
again, principal =3,600
r= 10%p.a
t=4yrs.
therefore interest =1440
ATP
40x/100=1440
x=1440×100/40
x=3600
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