Question
Simple interest received at the rate of 16% p.a. for 7
years on a principal amount of Rs. 4500 is twice of the simple interest received at 10% p.a. for 6 years on the principal amount of Rs. ‘X’. Find the value of ‘X’.Solution
According to the question, (4500 × 0.16 × 7) = 2 × (X × 0.10 × 6) Or, 5040 = 1.2X Or, X = 5040/1.2 = 4200
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