"> Word Problem 4 | Job Exam Rare Mathematics (JEMrare)

Word Problem 4

Problem 4: If an amount of Rs 2500 was invested @ of 4% per anum, and amount becomes Rs 3000 at the end of the term, what was the term of period for investment ?



Solution: 

simple arithmetic questions and answers

Here,

Principal Amount = P = 25\Rightarrow I= 3000-2500=50000

Amount at the completion of term =A=3000

Rate of interest applied = R = 4 % pa

We know,

 A=I+P

\Rightarrow I= A-P

\Rightarrow I= 3000-2500=500

We know ;

I = \frac{P\times R\times T}{100}

Put values;

500 = \frac{ 2500\times 4\times T}{100}

\Rightarrow T =\frac{ 500\times 100 }{2500\times4}

\Rightarrow T =5

So, the term is for 5 years

 

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