Question
A sum of money is invested at an annual simple interest
rate of 5%. After 'T' years, the interest accrued is Rs. 82, and the total amount is Rs. 902. Determine the duration 'T' for which the money was invested.Solution
ATQ, Sum invested = amount earned - interest received = 902 - 82 = Rs. 820 Using, Simple interest = (sum invested X time X rate) ÷ 100 82 = 820 X 0.05 X T Or, (82/820) = 0.05T Or, 0.1 = 0.05T Or, 0.1 ÷ 0.05 = T Or, T = 2
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