Question

A sum of money invested at 8% per annum amounts to Rs.12122 in 2 years. What will it amount to in 2 years 8 months at 9% per annum?

Please answer the question which is visible in a easy method.

Answer 1

Let the required sum be Rs. x.

S.I = \(\frac{P \times R \times T}{100}\)

= \(\frac{x \times 8 \times 2}{100}\)

= \(\frac{16x}{100}\)

A = P + S.I.

= \(x + \frac{16x}{100}\)

= \(\frac{100x + 16x}{100}\)

= \(\frac{116x}{100}\)

But the amount is Rs. 12122.

\(\frac{116x}{100}\) = 12122

x = \(\frac{12122 \times 100}{116} = 10450\)

Now, S.I = \(\frac{P \times R \times T}{100}\) 

= \(\frac{10450 \times 9 \times 32}{100 \times 12}\) 

= Rs. 2508

 A = P + S.I.

= Rs. 10450 + Rs. 2508

= Rs. 12958