Question
Download Solution PDFIf simple interest on a certain principal amount at 5% per annum for 5 years is Rs. 900 more than the simple interest on the same principal amount for 4 years at 4% per annum, then find out the principal amount.
Answer (Detailed Solution Below)
Detailed Solution
Download Solution PDFFormula used:
Simple Interest = (Principal × Rate × Time)/100
Calculation:
Simple Interest for 5 years at 5% = (P × 5 × 5) / 100 =
25P/100
Simple Interest for 4 years at 4% = (P × 4 × 4)/100 = 16P/100
25P/100 - 16P/100 = 900
⇒ 9P/100 = 900
⇒ 9P = 90000
⇒ P = 10000
Therefore, the principal amount is Rs. 10,000.
Last updated on Jul 7, 2025
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