Question

SI on rs 5000 at 10percent for a certain period is rs 500 less then the interest on rs 6000 at 10 percent p.A for the same period of time . Find time

Answer 1

The time period was of 5 years.

Explanation:

The formula to compute the simple interest is:

`SI=(P* r* t)/(100)`

The information provided is as follows:

`P_(1)=5000\\\\r_(1)=10\%\\\\P_(2)=6000\\\\r_(2)=10\%\\\\SI_(1)=S_(2)-500`

The time period is same for both the amounts.

Compute the time t as follows:

`SI_(1)=SI_(2)-500`

`SI_(2)-SI_(1)=500`

`(P_(1)* r_(1)* t)/(100)-(P_(2)* r_(2)* t)/(100)=500`

`(6000* 10* t)/(100)-(5000* 10* t)/(100)=500\\\\`

`600t-500t=500\\\\`

`100t=500\\`

`t=5\ \text{years}`

Thus, the time period was of 5 years.