Question
How much a sum was put at fixed rate of simple interest
for 5 years. If the interest would have been 6 % higher than the foregoing rate, then Rs. 7500 would have been grossed more. Find the sum?Solution
Let the sum be take as (a) and the rate of interest be taken asĀ r %,Ā According to the question there would be , Ā [a x 5 x (r + 6)]/100 ā (a x 5 x r)/100 = 7500 Ā (5ar + 30a)/100 ā 5ar/100 = 7500 Ā 30a/100 = 7500 Ā a =7500 x (100/30) Ā a = 25000Ā so, Sum (a) will beĀ = Rs. 25000
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