Question
A man invested certain sum at simple interest of r% p.a.
such that it amounts to 160% of itself in 6 years. Find the interest earned when Rs. 2400 is invested at simple interest of r% p.a. for 3 years.Solution
Let the sum invested be Rs. ‘P’ Therefore, interest earned in 6 years = 1.6P – P = Rs. 0.6P ATQ; 0.6P = (P × r × 6) ÷ 100 Or, r = 60 ÷ 6 Or, r = 10 So, required interest earned = (2400 × 10 × 3) ÷ 100 = Rs. 720
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