Word Problem 2

Simple & Compound Interest 0

Problem 2: On an investment interest at rate of 4% for 8 months term is Rs 129 less than the interest on the same amount at rate of 5% for 15 months. What is the value of investment (principal amount) ?

Solution:

simple arithmetic questions and answers

In the First Case;

R1=4, T1 = 8/12

$I1= \frac{P1\times R1\times T1}{100}$

$I1= \frac{y\times 4\times \frac{8}{12}}{100}$

$I1= \frac{8y}{300}$

In the 2nd Case;

R2 =5, T2= 15/12

$I2= \frac{P2\times R2\times T2}{100}$

$I2= \frac{y\times 5\times \frac{15}{12}}{100}$

$I2= \frac{75y}{1200}$

According to condition of question;

$I2-I1=129$

$\Rightarrow \frac{75y}{1200} -\frac{8y}{300}= 129$

$\Rightarrow \frac{75y-32y}{1200} = 129$

$\Rightarrow \frac{43y}{1200} = 129$

$\Rightarrow y =\frac{129\times 1200}{43}$

$\Rightarrow y =3600$

So, the principal amount was Rs 3600

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Word Problem 2

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Word Problem 2

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