Question

What sum will amount to 6,600 in 4 years at 8% per annum simple interest?​

Answer 1

Answer:

Let the sum which will amount to Rs 6,600 in 4 years @ 8% per annum be P.

We know that the interest on the amount P for time t years @ r% per annum is given by I=P×r×t100

Hence, we have

I=P×8×4100=8P25

We know that the amount A is given by A=I+P

Hence, we have

A=8P25+P=33P25

But given that A = 6600

Hence, we have

33P25=6600

Multiplying both sides by 25, we get

33P=25×6600

Dividing both sides by 33, we get

P=25×660033=25×200=5000

Step-by-step explanatio

Complete step-by-step answer:

Let the sum which will amount to Rs 6,600 in 4 years @ 8% per annum be P.

We know that the interest on the amount P for time t years @ r% per annum is given by I=P×r×t100

Hence, we have

I=P×8×4100=8P25

We know that the amount A is given by A=I+P

Hence, we have

A=8P25+P=33P25

But given that A = 6600

Hence, we have

33P25=6600

Multiplying both sides by 25, we get

33P=25×6600

Dividing both sides by 33, we get

P=25×660033=25×200=5000

Hence the sum which will amount to Rs 6,600 @ 8% per annum for 4 years at simple interest is Rs. 5000.

Hence option b is correct.

Note: Verification:

We have P = 5000, r = 8% and t = 4 years

Hence, we have

I=5000×8×4100=1600

Hence, we have A = P+I = 5000+1600 = Rs 6,600

Hence our answer is verified to be correct.

Answer 2

A=6,600,t=4,r=8,P=?

A=SI+P 100Ptr

+P

or 6,600=P( 1004×8

+1)=( 25

8

+1)Ptr P= 33

6,600×25

=Rs5,000