A certain sum P when invested for four years at the rate of 10% p.a. simple interest, amounts to 22,960/?. What will be the interest earned when (P + 600) is invested in the same rate of simple interest p.a. for four years ?
A certain sum P when invested for four years at the rate of 10% p.a. simple interest, amounts to 22,960/?. What will be the interest earned when (P + 600) is invested in the same rate of simple interest p.a. for four years ?
1). 6,400/
2). 6,800/
3). 6,500/
4). 6,600′
2 answers
Amount under simple interest = $\frac{P \times R \times T}{100} + P$
Given : $\frac{P \times 10 \times 4}{100} + P = 22,960$
=> $\frac{2P}{5} + P = 22,960$
=> $\frac{7P}{5} = 22,960$
=> $P = \frac{22,960 \times 5}{7} = 16,400$
Now, new amount invested = $16,400 + 600 = 17,000$
$\therefore$ S.I. = $\frac{17,000 \times 10 \times 4}{100}$
= $170 \times 40$ = Rs. $6,800$
Amount under simple interest = $\frac{P \times R \times T}{100} + P$
Given : $\frac{P \times 10 \times 4}{100} + P = 22,960$
=> $\frac{2P}{5} + P = 22,960$
=> $\frac{7P}{5} = 22,960$
=> $P = \frac{22,960 \times 5}{7} = 16,400$
Now, new amount invested = $16,400 + 600 = 17,000$
$\therefore$ S.I. = $\frac{17,000 \times 10 \times 4}{100}$
= $170 \times 40$ = Rs. $6,800$
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