A sum of money invested at 8 per annum
Asked by admin @ in Math viewed by 269 People
A sum of money invested at 8% per annum for simple interest amounts to 12122 in 2years what will it amounts to in 2years 8months at 9% rate of intrest
Answered by admin @
P = x
R = 8%
T = 2 years
SI = P * R * T / 100
= x * 8 * 2 / 100
= 4x / 25
A = P + SI
= x + 4x / 25
= 29x / 25
But Amount = ₹ 12122
29x / 25 = 12122
x = 12122 * 25 / 29
= ₹ 10450
To find the amount after 2 years 8 months
P = ₹ 10450
R = 9%
T = 2 years 8 months
= 8/3 years
SI = P * R * T / 100
= 10450 * 9 * 8 / 100 * 3
= ₹ 2508
A = P + SI
= 10450 + 2508
= ₹ 12958
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