Maths-

General

Easy

Question

# The simple interest on a certain sum for 3 ½ years at 12% per annum is Rs. 98 more than the simple interest on the same sum for 2 ½ years at 14% per annum. Find the sum.

Hint:

Maths-

General

Easy

Question

Hint:

Let the sum of money =

Case Ι

Principal amount =

We know the formula of Interest I = ,

where P is Principal amount, T is number of years and is rate of interest

On substituting the values, we get …(i)

Case Ⅱ

Principal amount = P, Rate = 14% and time = 2.5 years

We know the formula of Interest I = ,

where P is Principal amount, T is number of years and is rate of interest

On substituting the values, we get …(ii)

It is given that the simple interest for case I is Rs 98 more than the simple interest for case Ⅱ.

So,

On multiplying on both the sides, we get 7p = 9800

Divide the above equation by 7 on both the sides,

We get P = 1400

Hence the sum P = Rs 1400