Question
Download Solution PDFA sum of money lent out at simple interest amounts to Rs. 715 after 3 years and to Rs. 990 after a further period of 5 years. Find the sum.
Answer (Detailed Solution Below)
Detailed Solution
Download Solution PDFGiven:
Amount after 3 years = Rs. 715
Amount after 8 years = Rs. 990
Formula used:
A = P + SI
Where A = amount , P = Principle
And SI = Simple interest
Calculation:
Amount in 3 years = Rs. 715
Now it is given in the question, amount for the time of further 5 years i.e
Total time = 5 years + 3 years = 8 years.
Amount in 8 years = Rs. 990
SI for 5 years = Amount after 8 years - Amount after 3 years
⇒ SI for 5 years = 990 - 715 = 275
SI for 1 years = 275/5 = 55
SI for 3 years = 55 × 3 = Rs.165
P = Amount of 3 years - SI of 3 years
⇒ P = 715 - 165 = 550
∴ The sum is Rs. 550
Confusion Points It is given in the question that after further 5 years amount is calculated , so total time will be (5 +3) years = 8 years. not 5 years.
Last updated on Jun 12, 2025
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