Question
A certain amount, when invested
at a simple interest rate of 18.2% per annum, grows to Rs. 14,552 in 4.5 years. What is the initial sum invested?Solution
ATQ,
Let the sum invested be Rs. 'P'. ATQ; 14552 - P = (P X 18.2 X 4.5) Ă· 100 Or, 14552 - P = 0.819P Or, 14552 = 1.819P So, P = (14552/1.819) = 8000 So, sum invested = Rs. 8,000
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