what sum lent out at 6.2% per annum produces the same simple interest – InterviewSolution

1.	what sum lent out at 6.2% per annum produces the same simple interest in 2 years as rs 1500 lent out at 5% produces in 1 year and 4 months
Answer» -STEP EXPLANATION:We have,Principal VALUE P=3200Rate =R=852%Time =T=7yearThen usingS.I.=100P×R×T=1003200×542×7=5×1003200×42×7=532×42×7S.I.=Rs1881.6In the second caseS.I.=100P×R×T1881.6=100P×320×71881.6×100=P×320×7P=20×71881.6×100×3P=71881.6×5×3P=Rs4704Hence, this is the ANSWER.

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