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 May 17th, 2018, 02:17 AM #1 Senior Member   Joined: Aug 2014 From: India Posts: 233 Thanks: 1 Where am I doing wrong? Anoop deposited a certain amount at 15% p.a simple interest in the name of his son when his son was 6 years old. It became 37,240/- when his son turned 12 years of age. What was the amount he deposited initially? Ans) R = 15% I = 37240 T = 6 years SI = P * R * T/ 100 37240 = (P * 15 * 6 )/ 100 P = 37240 * 100/15 * 6 P = 41377.7 But answer is 19,600. How?
May 17th, 2018, 04:27 AM   #2
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Quote:
 Originally Posted by Ganesh Ujwal 37240 = (P * 15 * 6 )/ 100
Should be: 37240 = P + (P * 15 * 6)/100

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