A certain sum becomes Rs.20000 in six years and 24000 in eight years at simple interest. Find sum and rate of interest?
Question
SIMPLE INTEREST :
A certain sum becomes Rs.20000 in six years and 24000 in eight years at simple interest. Find sum and rate of interest?
S.I. for 2 years = Rs. (24000-20000) =4000
S.I for 1 year = Rs 2000
S.I for 6 years = Rs 6*2000 = 12000
Principal = Rs. (20000 - 12000) = Rs. 8000
Now, P = 8000, T =6, and S.I. = 12000, Rate =(100*12000)/(8000*6)=25%
So Anwser is Rs 8000, 25%p.a;
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Aptitude