Dhruvika invested money for a period from May 2006 to April 2008 at a rate of 12% per annum. If interest received by her is ₹1620, find the money invested

Solution:

Dhruvika invested money for a period from May 2006 to April 2008 at a rate of 12% per annum. The interest received by her is ₹1620.

We have to find the money invested.

According to the question,

I = ₹1620

R = 12%

T = 2 years

We know, Interest I = P × R × T/100

1620 = P × 12 × 2/100

1620 = P × 12/50

1620 = P × 6/25

P = 1620 × (25/6)

= 170 × 25

= 6750

Therefore, the amount invested is ?6750.

✦ Try This: A sum of money invested at a certain rate of interest doubles itself in 10 years. In how many years will the money triple itself at the same rate? 

☛ Also Check: NCERT Solutions for Class 7 Maths Chapter 8

NCERT Exemplar Class 7 Maths Chapter 7 Problem 110

Dhruvika invested money for a period from May 2006 to April 2008 at a rate of 12% per annum. If interest received by her is ₹1620, find the money invested

Summary:

Dhruvika invested money for a period from May 2006 to April 2008 at a rate of 12% per annum. If interest received by her is ₹1620, the money invested is ₹6750.

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