Question
The interest received on investing Rs. (2p + 400) on
simple interest at 15% p.a. for 4 years is Rs. (p + 540). Find the ratio (p + 100) :(p + 500).Solution
Simple interest = Principal X rate X time ÷ 100 So, p + 540 = (2p + 400) X 15 X 4 ÷ 100 Or, p + 540 = 1.2p + 240 Or, 0.2p = 300 Or, 'p' = 1500 Required ratio = (1500 + 100) :(1500 + 500) = 1600:2000 = 4:5
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