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Mathematics

In what time will the interest on a certain sum of money at 6% be 58\dfrac{5}{8} of itself?

Simple Interest

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Answer

Let the Principal amount be ₹ P.

S.I. = 58\dfrac{5}{8} of P

R = 6%

Let time be tt years.

S.I.=(P×R×T100)58×P=(P×6×t100)58×P=(P×3t50)58=(3t50)t=5×508×3t=25024t=101024t=10512\because \text{S.I.} = ₹ \Big(\dfrac{P \times R \times T}{100}\Big)\\[1em] \Rightarrow \dfrac{5}{8} \times \text{P} = ₹ \Big(\dfrac{P \times 6 \times t}{100}\Big)\\[1em] \Rightarrow \dfrac{5}{8} \times \cancel{P} = ₹ \Big(\dfrac{\cancel{P} \times 3t}{50}\Big)\\[1em] \Rightarrow \dfrac{5}{8} = ₹ \Big(\dfrac{3t}{50}\Big)\\[1em] \Rightarrow t = \dfrac{5 \times 50}{8 \times 3}\\[1em] \Rightarrow t = \dfrac{250}{24}\\[1em] \Rightarrow t = 10\dfrac{10}{24}\\[1em] \Rightarrow t = 10\dfrac{5}{12}\\[1em]

Hence, the time is 10 years and 5 months.

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