a sum of money put at 9% per annum simple interest amount to 10160 in 3 years. What will it amount to in 2 years at 8% per annum
Home
/
a sum of money put at 9% per annum simple interest amount to 10160 in 3 years. What will it amount to
a sum of money put at 9% per annum simple interest amount to 10160 in 3 years. What will it amount to in 2 years at 8% per annum
Sign Up to our social questions and Answers Engine to ask questions, answer people’s questions, and connect with other people.
Login to our social questions & Answers Engine to ask questions answer people’s questions & connect with other people.
Verified answer
Answer:
Find the interest percentage earned in 3 years:
1 year = 9%
3 years = 9 x 3 = 27%
Find the principal amount:
Interest = 27%
Percentage of money with interest = 100 + 27 = 127%
Sum of money with interest = Rs 10160
127%= rs 10160
1% = [tex]\frac{10160}{127} = rs80[/tex]
100 = Rs 80 x 100 = Rs 8000
Find the interest for 2 years at 8% per annum:
[tex]1 year = 8% x 8000 = 0.08 x 8000 = Rs 6402 years = 640 x 2 = Rs 1280[/tex]
Find the amount after 2 years:
Total amount = [tex]Rs 1280 + Rs8000 = Rs 9280[/tex]