Question
A man invested certain sum at simple interest of r% p.a.
such that it amounts to 170% of itself in 7 years. Find the interest earned when Rs. 2800 is invested at simple interest of r% p.a. for 3 years.Solution
Let the sum invested be Rs. ‘P’ Therefore, interest earned in 7 years = 1.7P – P = Rs. 0.7P ATQ; 0.7P = (P × r × 7) ÷ 100 Or, r = 70 ÷ 7 Or, r = 10 So, required interest earned = (2800 × 10 × 3) ÷ 100 = Rs. 840
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