Question
Rs. 2800 when invested at 8% p.a. for (x + 5) years
gives a simple interest of Rs. 4480. Find the amount received when the same sum is invested at 5% p.a. simple interest for 1.5x years.Solution
According to the question,
(2800 × 8 × (x + 5)) ÷ 100 = 4480
Or, 224(x + 5) = 4480
Or, x + 5 = 20
Or, x = 15
Therefore, 1.5x = 22.5 years
Required amount received = {(2800 × 5 × 22.5) ÷ 100} + 2800 = (3150) + 2800 = Rs. 5950
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