Selina solutions

Selina solutions

Grade 7

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Question 11

Q11) What sum of money lent out at 5% for 3 years will produce the same interest as Rs. 900 lent out at 4% for 5 years?

Solution:

In second case, Principal (P) = Rs. 900

Rate (R) = 4%, Time (T) = 5 years

∴SI=\frac{PRT}{100}=\frac{900\times4\times5}{100}=180Rs.

In first case, SI = Rs. 180

Rate = 5%, Time = 3 years

∴ Sum = \frac{SI\times100}{R\times T}=\frac{180\times100}{3\times5}=Rs.1200

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