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 as r %, According to the question there would be , [a x 5 x (r + 6)]/100 – (a x 5 x r)/100 = 7500 (5ar + 30a)/100 – 5ar/100 = 7500 30a/100 = 7500 a =7500 x (100/30) a = 25000 so, Sum (a) will be = Rs. 25000
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