Word Problem 6
Problem 6: A man invests a certain amount in a project at 4% per anum simple interest. After 5 years he gets Rs 3600. What amount he invested?
Solution:
Suppose investment is ‘x” i-e initial amount P;
Time Period of investment;
Rate of interest R;
We know relation or formula for interest;
Put values;
Also we know ;
But
Put values of ‘A’, ‘P’ and ‘I”
Solving for ‘x’
So, he invested Rs 3000/-