Question
A certain sum amounts to ₹13000 after 4 years and to
₹16000 after 8 years at the same rate percent p.a. at simple interest. The simple interest (in ₹) on the same sum at 10% p.a. for 2(1/5) years will be:Solution
As we know in simple interest the interest is always constant if the rate and sum are the same So, Interest for 4 years = 16000 - 13000 ⇒ Rs. 3000 So, for the 1st 4 years, the interest will be Rs. 3000 [As mentioned earlier interest will be the same] So, sum = 13000 - 3000 = Rs. 10000 Now, S.I = (10000 × 10 × 11)/ (100 × 5) = 100 × 2 × 11 = Rs. 2200 ∴ The simple interest (in Rs.) on the same sum at 10% p.a. for 2(1/5) years will be 2200.
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