Advertisements
Advertisements
Question
In how much time will the simple interest on ₹ 3,000 at the rate of 8% per annum be the same as simple interest on ₹ 4,000 at 12% per annum for 4 years?
Advertisements
Solution
Let the required number of years be x
Simple Interest I = `"Pnr"/100`
Principal P1 = ₹ 3000
Rate of interest (r) = 8%
Time (n1) = n1 years
Simple Interest I1 = `(3000 xx 8 xx "n"_1)/100` = 240 n1
Principal (P2) = ₹ 4000
Rate of interest (r) = 12%
Time n2 = 4 years
Simple Interest I2 = `(4000 xx 12 xx 4)/100`
I2 = 1920
If I1 = I2
240 n1 = 1920
n1 = `1920/240`
= 8
∴ The required time = 8 years
APPEARS IN
RELATED QUESTIONS
Find the amount to be paid at the end of 3 years in given case:
Principal = ₹ 1,200 at 12% p.a.
What rate gives ₹ 280 as interest on a sum of ₹ 56,000 in 2 years?
On what principal will the simple interest be Rs. 7,008 in 6 years 3 months at 5% per year?
The interest on a certain sum of money is 0.24 times itself in 3 years. Find the rate of interest.
The interest for a principle of ₹ 4,500 which gives an amount of ₹ 5,000 at end of certain period is
Stephen invested ₹ 10,000 in a savings bank account that earned 2% simple interest. Find the interest earned if the amount was kept in the bank for 4 years
Given the principal = Rs 40,000, rate of interest = 8% p.a. compounded annually. Find amount if period is 2 years.
Rajni and Mohini deposited ₹ 3000 and ₹ 4000 in a company at the rate of 10% per annum for 3 years and `2 1/2` years respectively. The difference of the amounts received by them will be ______.
Chalk contains 10% calcium, 3% carbon and 12% oxygen. Find the amount of carbon and calcium (in grams) in `2 1/2` kg of chalk.
Divide ₹ 10000 in two parts so that the simple interest on the first part for 4 years at 12 per cent per annum may be equal to the simple interest on the second part for 4.5 years at 16 per cent per annum.
