Question

In what time will the interest on a certain sum of money at 6% be `5/8` of itself?

Answer 1

Let P = Rs.8

Interest = Rs.`8xx5/8` = Rs.5

R = 6%

T =`(100xx"I")/("P"xx"R")`

`=(100xx5)/(8xx6)`

`=500/48=125/12` years

`=10 5/12` years

= 10 years 5 months

`[∵ 5/12"year"=5/12xx12  "months"=5  "momths"]`

∴ Time = 10 years 5 months