Question
Download Solution PDFA sum becomes Rs. 10650 in 5 years. and Rs. 11076 in 6 years at simple interest. What is the sum?
Answer (Detailed Solution Below)
Detailed Solution
Download Solution PDFConcept Used:
In this type of question, number can be calculated by using the below formulae
Formula Used:
If a sum with simple interest rate, amounts to Rs. ‘A’ in y years. and Rs. ‘B’ in z years. then,
P = (A × z – B × y)/(z – y)
Calculation:
Using the above formulae, we have
⇒ P = (10650 × 6 – 11076 × 5)
⇒ P = Rs. 8520
∴ Required principal is Rs. 8520
A sum becomes Rs. 10650 in 5 years. and Rs. 11076 in 6 years. at simple interest
Interest of 1 year = 11076 – 10650 = Rs. 426
Interest of 5 year = 426 × 5 = 2130
∴ Required principal = 10650 – 2130 = Rs. 8520
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