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16. What sum of money lent out at simple interest at 10% per annum for 15 years will produce the same interest as Rs. 500 lent at 5% per annum for 6 years? |
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Answer» Rate (R) = 4%, Time (T) = 5 years∴SI=\FRAC{PRT}{100}=\frac{900\times4\times5}{100}=180Rs.∴SI= 100PRT = 100900×4×5 =180Rs.In first CASE, SI = Rs. 180Rate = 5%, Time = 3 years∴ Sum = \frac{SI\times100}{R\times T}=\frac{180\times100}{3\times5}=Rs.1200 R×TSI×100 = 3×5180×100 =Rs.1200 |
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