Question
Rajan invested Rs. 18,000 in a scheme offering x% p.a.
simple interest for x years. Interest earned by him after ‘x’ years is Rs. 11520. Find the interest earned by him if he invested Rs. 12,000 at x% p.a. simple interest for 4 years.ÂSolution
ATQ, Interest earned by Rajan = 18000 × x × x/100 = 11520 180x2 = 11520 x2 = 64 x = 8 So the value of x = 8 Interest earned on Rs. 12,000 = 12000 × 0.08 × 4 = Rs.3,840
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