Question
Karan saved Rs. x in a fixed deposit at 12% simple interest
per annum. If the total interest after 5 years amounts to Rs. ‘1.8x – 1000’, determine the value of x.Solution
ATQ,
0.12 × 5 × x = 1.8x – 1000
⇒ 0.6x = 1.8x – 1000
⇒ –1.2x = –1000
⇒ x = 1000 ÷ 1.2 = 833.33
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