Question
A sum of Rs. 'Y' was invested for 7(1/4) years at
simple interest of 8(2/5)% p.a. such that the simple interest received was Rs. 5,115.60. Find the simple interest received on investing Rs. (Y + 1600) for 6 years at simple interest of 11% p.a.Solution
Simple interest received on investing Rs. 'Y' = (Y x 7(1/4) x 8(2/5)) ÷ 100 = Rs. '0.609Y' We have, 0.609Y = 5115.6 So, Y = 5115.6 ÷ 0.609 = 8400 (Y + 1600) = 8400 + 1600 = 10,000 So, simple interest received = (10000 x 6 x 11) ÷ 100 = Rs. 6,600
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