What Sum of Money Lent at 6.5% per Annum Will Produce the Same Interest in 4 Years as Rs.7500 Produce in 6 Years at 5% per Annum? - Mathematics

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Sum

What sum of money lent at 6.5% per annum will produce the same interest in 4 years as Rs.7500 produce in 6 years at 5% per annum?

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Solution

In first case :

P = Rs.7500

R = 5%

T = 6 years

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

= Rs.`(7500xx5xx6)/100`

= Rs.75 × 5 × 6

= Rs.2250

In the second case:

According to the statement, interest = Rs.2250

R = 6.5% P.A.

T = 4 years

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

= Rs. `(100xx2250)/(6.5xx4)`

= Rs. `225000/26` = Rs. `112500/13`

= Rs.8653.85

Required principal = Rs.8653.85

Concept: To Find the Principle (P); the Rate Percent (R) and the Time
  Is there an error in this question or solution?

APPEARS IN

Selina Concise Mathematics Class 8 ICSE
Chapter 9 Interest
Exercise 9 (B) | Q 5 | Page 108
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