A certain sum of money is invested for a certain time at 6% p.a. simple interest. It amounts to Rs.120. If the same principal is invested for the same duration at 3% p. a simple interest, it amounts to Rs.80. What is the principal invested and what is duration for which it was invested?

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Asked: December 22, 20212021-12-22T13:30:55+05:30 2021-12-22T13:30:55+05:30Category: Number Puzzles

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Mighty Ashish · Answer 1 · 2021-12-22T13:31:19+05:30

Explanation:

Let the sum of money invested= P, and time of investment, rate6%

120=P×n×6\100+P

Also, 80=P×n×3\100+Por3×P×n\100=80−P

or 6Pn\100=2(80−P)

Substituting (2) in (1), we get 120=2(80−P)+P=160−PorP=Rs.40

Substituting P in equation (2), we get 80−40×n×3\100+40orn=100\3Years