Question
Rs. 3200 when invested at 7.5% p.a. for (x + 6) years
gives a simple interest of Rs. 4800. Find the amount received when the same sum is invested at 6% p.a. simple interest for 2x years.Solution
According to the question,
(3200 × 7.5 × (x + 6)) ÷ 100 = 4800
Or, 240(x + 6) = 4800
Or, x + 6 = 20
Or, x = 14
Therefore, 2x = 28 years
Required amount received = {(3200 × 6 × 28) ÷ 100} + 3200 = (5376) + 3200 = Rs. 8576
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