A sum of money invested at 9% per annum simple interest amounts to Rs. 37760 in 2 years. What will it amount to in 3 years at 10% per annum?
Text Solution
AI Generated Solution
The correct Answer is:
To solve the problem step by step, we will first determine the principal amount using the information given about the simple interest at 9% per annum for 2 years, and then we will calculate the amount for 3 years at 10% per annum.
### Step 1: Calculate the Simple Interest for 2 Years
We know that:
- Amount (A) = Rs. 37,760
- Rate (R) = 9% per annum
- Time (T) = 2 years
The formula for the amount in simple interest is:
\[ A = P + SI \]
Where:
- \( SI = \frac{P \times R \times T}{100} \)
### Step 2: Substitute the values into the formula
We can express the amount in terms of principal (P):
\[ 37760 = P + \frac{P \times 9 \times 2}{100} \]
### Step 3: Simplify the equation
This simplifies to:
\[ 37760 = P + \frac{18P}{100} \]
\[ 37760 = P + 0.18P \]
\[ 37760 = 1.18P \]
### Step 4: Solve for Principal (P)
Now, we can solve for P:
\[ P = \frac{37760}{1.18} \]
\[ P = 32000 \]
### Step 5: Calculate Simple Interest for 3 Years at 10%
Now that we have the principal amount, we will calculate the amount for 3 years at 10% per annum:
- New Rate (R) = 10%
- New Time (T) = 3 years
Using the simple interest formula:
\[ SI = \frac{P \times R \times T}{100} \]
\[ SI = \frac{32000 \times 10 \times 3}{100} \]
\[ SI = \frac{320000}{100} \]
\[ SI = 3200 \]
### Step 6: Calculate the Total Amount for 3 Years
Now, we can find the total amount:
\[ A = P + SI \]
\[ A = 32000 + 3200 \]
\[ A = 35200 \]
### Final Answer
The amount after 3 years at 10% per annum will be Rs. 35,200.
---
Topper's Solved these Questions
SIMPLE INTEREST
ICSE|Exercise EXERCISE 11|12 Videos
SIMPLE INTEREST
ICSE|Exercise Try this |11 Videos
SETS
ICSE|Exercise EXERCISE 6 D|23 Videos
SIMPLE LINEAR EQUATIONS
ICSE|Exercise Unit Practice Paper II |8 Videos
Similar Questions
Explore conceptually related problems
A sum of money put at 9% per annum simple interest amounts to Rs. 10160 in 3 years. What will it amount to in 2 years at 8% per annum?
A sum of money put at 11% per annum simple interest amounts to Rs. 10370 in 2 years. What will it amount to in 3 years at the same rate?
A sum when reckoned at 6% per annum simple interest amounts to Rs. 4130 in 3 years. Find the sum.
The amount of Rs 200 in 10 years at 10 % per annum is
At what rate per cent per annum simple interest will Rs. 66000 amount to Rs. 72720 in 2 years?
Rs 14000 is invested at 4 % per annum simple interest . How long will it take for the amount to reach rs 16240 ?
The simple interest on Rs 100 for 4 years at 5 % per annum is
A sum of money amounts to Rs.1500 in 5 years at 10% per annum at simple interest. find the sum
A certain sum of money amounts to Rs 23,400 in 3 years at 10% per annum simple interest. Find the amount of the same sum in 2 years and at 10% p.a. compound interest.
What sum will amount to Rs. 1292 in 3 years at 12% per annum simple interest?