Start learning 50% faster. Sign in now
Interest returned on investing Rs. 14000 = 14000(1 + 15/100)2 – 14000 = 14000(115/100)2 – 14000 = 14000(23/20)2 – 14000 = 14000{232/202)- 1} = 14000{529/400)- 1} = 14000(529 - 400)/400 = Rs. 4515 So, interest returned on investing Rs. Y for 1 year at simple interest of 20% p.a. = 4515 + 20 = Rs. 4535 Or, Y × (20/100) = 4535 Or, Y = 4535 × (100/20) Or, Y = 22675
If the ratio of the sum invested and simple interest received after 1 year is 25:7 respectively, then find the rate of interest.