Question
A man invests Rs X in a scheme at 12% rate of interest
for 8 years. After 8 years he reinvests the amount received at same rate of interest for same time duration. If interest received from reinvestment is Rs 5730.40 more than Rs X. Find the value of X?Solution
Let the principal be Rs. 100x. SI = (100x × 12 × 8)/100 = 96x Amount = 100x + 96x = 196x Therefore, ATQ (196x/100) × (96/100) – X = 5730.40 x{(196 × 96 – 10000)/10000} = 5730.40 so, x = 6500
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