Question

what sum of money will amount to rs 1000 in 4 years at 7.5 per annum

Answer 1

Answer:

Rs 96

Step-by-step explanation:

N=4years

R=4 %

We have S.I.=100PNR​=100P×4×4​=10016P​=0.16P

And on interest being compounded for 3  years and R=5 %, Amount=P(1+100R​)N=P(1+1005​)3=P×(1.053)=1.157625P

So, C.I.=A−P=1.157625P−P=0.157625P

Given, S.I.−C.I=Rs228

=>0.16P−0.157625P=Rs228

=>0.002375P=Rs228

=>P=Rs96,000

Answer 2

Answer:

We are given

Amount (A) = 3920

Rate (R) = 7.5%

Time (T) = 3 years

The formula for simple interest (S.I.) is

(P*R*T)/100

A = S.I. + P

3920 = {(P*R*T)/100} + P

3920 = {(P*7.5*3)/100} + P

3920 = {(P*22.5)/100} + P

Here we will take L.C.M of 100 and 1

3920 = (22.5P + 100P)/100

3920*100 = 122.5P

392000/122.5 = P

P = 3200

Hence, the sum is 3200.