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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?
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