Question 59

A certain sum P when invested for four years at the rate of 10% p.a. simple interest, amounts to 22,960/. What will be the interest earned when (P + 600) is invested in the same rate of simple interest p.a. for four years ?

Solution

Amount under simple interest = $$\frac{P \times R \times T}{100} + P$$

Given : $$\frac{P \times 10 \times 4}{100} + P = 22,960$$

=> $$\frac{2P}{5} + P = 22,960$$

=> $$\frac{7P}{5} = 22,960$$

=> $$P = \frac{22,960 \times 5}{7} = 16,400$$

Now, new amount invested = $$16,400 + 600 = 17,000$$

$$\therefore$$ S.I. = $$\frac{17,000 \times 10 \times 4}{100}$$

= $$170 \times 40$$ = Rs. $$6,800$$

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A certain sum P when invested for four years at the rate of 10% p.a. simple interest, amounts to 22,960/­. What will be the interest earned when (P + 600) is invested in the same rate of simple interest p.a. for four years ?