Question
An amount becomes seven times of itself in 48 years at
simple interest. Find the value of (5R − 15), where R is the rate of interest per annum.Solution
Let the amount invested be Rs. 'p'.
Interest earned = 7p − p = Rs. 6p
Simple interest = Principal × Rate × Time ÷ 100
So, 6p = p × R × 48 ÷ 100
Or, R = (6 × 100) ÷ 48 = 12.5
Required value = 5 × 12.5 − 15 = 62.5 − 15 = 47.5
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