The interest earned on investing Rs. 'P' for 5 years at simple interest of 10% p.a. is Rs. 500 more than the interest earned on investing Rs. (P - 1,500) for 5 years at simple interest of 11% p.a. Find the value of '2P'.
ATQ, Simple interest = Principal × Rate × Time ÷ 100 Simple interest earned on investing Rs. 'P': SI=P×5×10÷100=0.5P Simple interest earned on investing Rs. (P - 1,500): SI=(P−1,500)×5×11÷100=0.55P−825 According to the question: 0.5P=0.55P−825+500 0.5P=0.55P−325 0.05P=325 P=325÷0.05=6,500 Required value: 2P=2×6,500=13,000
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