Question
Download Solution PDFThe simple interest on a sum of money in 6 years at the rate of 15% per annum is Rs. 1,440 less than the simple interest accrued on the same sum in 9 years at 18% per annum. What is the sum of money (in Rs.)?
Answer (Detailed Solution Below)
Detailed Solution
Download Solution PDFGiven:
Interest difference = Rs. 1440,
T = 6 years and 9 years,
R = 15% and 18%
Formula Used:
A = P + (P × R × T)/100
Calculation:
Let the principal be P.
According to the question,
1440 = [(P × 18 × 9)/100] - [(P × 15 × 6)/100]
⇒ 1440 = 162P/100 - 90P/100
⇒ 1440 = 72P/100
⇒ P = 2000
The answer is 2000.
Last updated on Jul 18, 2025
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