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A certain sum of money was invested at S.I for 3 years . If it has invested at rate 7% higher, then the interest have been 882/- more, then the sum is?
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A certain sum of money was invested at S.I for 3 years . If it has inv...
**Problem Statement:**
A certain sum of money was invested at S.I for 3 years. If it has invested at rate 7% higher, then the interest have been 882/- more, then the sum is?
**Solution:**
Let us assume that the principal amount is P and the rate of interest is R.
Given that the sum is invested for 3 years.
We know that,
Simple Interest (SI) = (P x R x T)/100
Where T is the time period in years.
**Calculation:**
Let us assume that the rate of interest is R%.
Therefore, the SI for 3 years at the rate of R% is,
SI1 = (P x R x 3)/100
Similarly, if the rate of interest is increased by 7%, then the new rate of interest will be (R + 7)%
Therefore, the SI for 3 years at the rate of (R + 7)% is,
SI2 = (P x (R + 7) x 3)/100
Given that the difference in SI is Rs. 882/-
Therefore, we can write the equation as,
SI2 - SI1 = 882
(P x (R + 7) x 3)/100 - (P x R x 3)/100 = 882
3PR + 21P - 3PR = 88200
21P = 88200
P = Rs. 4200
Therefore, the sum invested is Rs. 4200.
**Conclusion:**
Hence, the sum invested at a rate of Rs. 7% higher for 3 years is Rs. 4200.
A certain sum of money was invested at S.I for 3 years. If it has invested at rate 7% higher, then the interest have been 882/- more, then the sum is?
**Solution:**
Let us assume that the principal amount is P and the rate of interest is R.
Given that the sum is invested for 3 years.
We know that,
Simple Interest (SI) = (P x R x T)/100
Where T is the time period in years.
**Calculation:**
Let us assume that the rate of interest is R%.
Therefore, the SI for 3 years at the rate of R% is,
SI1 = (P x R x 3)/100
Similarly, if the rate of interest is increased by 7%, then the new rate of interest will be (R + 7)%
Therefore, the SI for 3 years at the rate of (R + 7)% is,
SI2 = (P x (R + 7) x 3)/100
Given that the difference in SI is Rs. 882/-
Therefore, we can write the equation as,
SI2 - SI1 = 882
(P x (R + 7) x 3)/100 - (P x R x 3)/100 = 882
3PR + 21P - 3PR = 88200
21P = 88200
P = Rs. 4200
Therefore, the sum invested is Rs. 4200.
**Conclusion:**
Hence, the sum invested at a rate of Rs. 7% higher for 3 years is Rs. 4200.
Community Answer
A certain sum of money was invested at S.I for 3 years . If it has inv...
Let the sum required be Rs. P,
Given, number of years, N. = 3 years
Case 1
Rate of interest = r%
SI = P× N× R
= P × 3 × R
= 3PR. (1)
Case 2
Rate of interest = r+7%
SI = P × N × ( r + 0.07)
= 3PR + 0.21P - (2)
Given, (2) - (1) = Rs. 882
hence we have,
0.21P = 882
P = Rs. 4200/-
Given, number of years, N. = 3 years
Case 1
Rate of interest = r%
SI = P× N× R
= P × 3 × R
= 3PR. (1)
Case 2
Rate of interest = r+7%
SI = P × N × ( r + 0.07)
= 3PR + 0.21P - (2)
Given, (2) - (1) = Rs. 882
hence we have,
0.21P = 882
P = Rs. 4200/-
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A certain sum of money was invested at S.I for 3 years . If it has invested at rate 7% higher, then the interest have been 882/- more, then the sum is?
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A certain sum of money was invested at S.I for 3 years . If it has invested at rate 7% higher, then the interest have been 882/- more, then the sum is? for CA Foundation 2024 is part of CA Foundation preparation. The Question and answers have been prepared according to the CA Foundation exam syllabus. Information about A certain sum of money was invested at S.I for 3 years . If it has invested at rate 7% higher, then the interest have been 882/- more, then the sum is? covers all topics & solutions for CA Foundation 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for A certain sum of money was invested at S.I for 3 years . If it has invested at rate 7% higher, then the interest have been 882/- more, then the sum is?.
A certain sum of money was invested at S.I for 3 years . If it has invested at rate 7% higher, then the interest have been 882/- more, then the sum is? for CA Foundation 2024 is part of CA Foundation preparation. The Question and answers have been prepared according to the CA Foundation exam syllabus. Information about A certain sum of money was invested at S.I for 3 years . If it has invested at rate 7% higher, then the interest have been 882/- more, then the sum is? covers all topics & solutions for CA Foundation 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for A certain sum of money was invested at S.I for 3 years . If it has invested at rate 7% higher, then the interest have been 882/- more, then the sum is?.
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