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  Posted by Baishnavi on June 26, 2023 at 11:11 am

  In what time will Rs. 4,000 lent at 3% per annum on simple interest earn as much interest as Rs. 5,000 will earn in 5 years at 4% per annum on simple interest?

  Varun replied 10 months, 1 week ago 2 Members · 1 Reply
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  Varun

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  June 26, 2023 at 11:30 am

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  Let’s start by calculating the interest earned by Rs. 4,000. We can use the formula for simple interest:

  Interest = Principal × Rate × Time

  Given that the principal (P) is Rs. 4,000 and the rate (R) is 3% per annum, we need to determine the time (T) in years.

  Now, let’s calculate the interest earned by Rs. 4,000 using the formula:

  Interest = (4000 × 3 × T) / 100

  Simplifying the expression, we get:

  Interest = (120T) / 100 Interest = (6T) / 5

  Next, let’s calculate the interest earned by Rs. 5,000 over 5 years at a rate of 4% per annum:

  Interest = (5000 × 4 × 5) / 100 Interest = 1000

  So, we have the equation: (6T) / 5 = 1000

  To solve for T, we can cross-multiply and solve for T:

  6T = 5 × 1000 6T = 5000 T = 5000 / 6 T ≈ 833.33 years

  Therefore, it will take approximately 833.33 years for Rs. 4,000 lent at 3% per annum to earn as much interest as Rs. 5,000 will earn in 5 years at 4% per annum.

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