Question

What sum of money will produce Rs 600 as interest in 2 years at 10% per annum simple interest

Answer 1

Let the original rate be R percent per year, the principal amount be P, time T

Given is SI = 600 = P * R * 10 / 100

Hence P*R = 6000

SI for first five years will be 300 at the end of first 5 years.

When P is trebled for next five years, the SI for those five years will be = 3P * R * 5 / 100 = [ 15* P * R ] /100 = [ 15 * 6000 ] / 100 = 900

Hence the total interest will be 300 + 900 = 1200

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Answer 2

Let sum = x, S.I. = Rs. 6000, Time = 10 years.

Rate =(

x×10

100×6000

)=(

x

60000

)%

S.I. for first 5 years

=Rs.(

x×100

x×5×60000

)=Rs.3000

S.I. for last 5 years =Rs.(3x×5×

x×100

60000

)

=Rs.9000

∴ Total interest =Rs.12000.