What sum of money lent out at simple interest at 9 % p.a. for 3/2 years will produce the same interest as Rs 2250 lent at 6 % p.a. for 5 years

Solution

Problem: What sum of money lent out at simple interest at 9 % p.a. for 3/2 years will produce the same interest as Rs 2250 lent at 6 % p.a. for 5 years [ Calculator, Method and examples ]

Solution:
Your problem `->` What sum of money lent out at simple interest at 9 % p.a. for 3/2 years will produce the same interest as Rs 2250 lent at 6 % p.a. for 5 years

Here `P=` Rs. `2250, N=5` years, `R=6`%

`SI=(P*R*N)/100`

`SI=(2250*6*5 ) / 100=675`

Now, `SI=` Rs. `675, N=3/2` years, `R=9`%

`SI=(P*R*N)/100`

`P=(SI * 100) / (R * N)=( 675 * 100) / ( 9*3/2 )=5000`

The sum of money is Rs. `5000`

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