Question
The simple interest earned on investing Rs. (80X + 2000) at
simple interest of 15% p.a. for 36 months is Rs. 576 less than the total amount received on investing Rs. (64X + 300) for 90 months at simple interest of 8% p.a. What will be the interest received on investing Rs. 16000 for 2 years at simple interest of 'X%'?Solution
Simple interest earned investing Rs. (80X + 2000)
= (80X + 2000) X 0.15 X (36/12) = (36X + 900)
Total amount received on investing Rs. (64X + 300)
= (64X + 300) + {(64X + 300) X 0.08 X (90/12) }
= (64X + 300) + (38.4X + 180)
= Rs. (102.4X + 480)
Given that, 36X + 900 + 576 = 102.4X + 480
Or, 66.4X = 996
Or X = 996 ÷ 66.4 = 15
So, required simple interest = 16000 X 2 X 0.15 = Rs. 4800
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