Question
The simple interest received on a certain sum is Rs.
4500 less than the sum invested. If the sum was invested at 5% p.a. for 15 years, then find the simple interest received.Solution
Let the sum invested be Rs. x Therefore, simple interest received = Rs. (x – 4500) According to the question, {(x × 5 × 15)/100} = x – 4500 => 0.75x = x – 4500 => 0.25x = 4500 => x = 4500/0.25 = 18000 Therefore, simple interest received = x – 4500 = 18000 – 4500 = Rs. 13500
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