1.

The simple interest on a certain sum of money at the rate of 5% p.a. for 8 years is Rs. 840. At what rate of intrest the same amount of interest can be received on the same sum after 5 years.

Answer»

8%



Here FIRSTLY we need to CALCULATE the principal AMOUNT, then we can calculate the new rate.

P=(S.I.∗100)/(R∗T)
P=(840∗100)/(5∗8)
P=2100
Required Rate =(840∗100)/(5∗2100)
R=8%



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