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Suraj Jain

· started a discussion

· 1 Months ago

is there any short way to do thiss (Question: 123670.0 )

is there any short way to do thiss

Question:

A certain sum of money amounts to Rs 2613 in 6 yrs at 5% per annum. In how many years will it amount to Rs 3015 at the same rate?

Options:
A) 5 yrs
B) 10 yrs
C) 15 yrs
D) 20 yrs
E)

None of these


Solution:

Ans:(b)

A = P+ S.I.

= P+ \(\cfrac{P\times5\times6}{100}=\cfrac{130}{100}P\ = Rs\ 2613 \)

\(\Rightarrow\ P=\cfrac{2613\times100}{130}=Rs\ 2010 \)

Now, S.I.= A - P = Rs (3015-2010) 

= Rs 1005

\(\Rightarrow1005=\cfrac{2010\times5\times t}{100}\)

\(\therefore\) t = 10 year 

Knowledge Expert

· commented

· 1 Months ago

Dear Student,
Use the formula:
Principal = (100 x Amount) / (100 + rt) = (100 x 2613) / (100 + 30) = (100 x 2613) / 130 = Rs 2010

Again by using the same formula:
2010 = (100 x 3015) / (100 + 5t )
or, 100 + 5t = (100 x 3015) / 2010
So t = 1/5 [{(100 x 3015) – (100 x 2010)} / 2010]
= 100 x (3015 – 2010) / (2010 x 5 ) = (100 x 1005) / (2010 x 5) = 10 years.
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