
Elementary Math Fractions, Percentages, Word Problems, Equations, Inequations, Factorization, Expansion 
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May 17th, 2018, 02:17 AM  #1 
Senior Member Joined: Aug 2014 From: India Posts: 332 Thanks: 1  Where am I going 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 
Math Team Joined: Oct 2011 From: Ottawa Ontario, Canada Posts: 13,308 Thanks: 935  
June 19th, 2018, 07:39 AM  #3 
Math Team Joined: Jan 2015 From: Alabama Posts: 3,261 Thanks: 894 
Let the amount originally deposited be A. Then 15% for 6 years would be 90%. It will have earned 0.9A interest so the total will be A+ 0.9A= (1.9)A= 37240. A= 37240/1.9= 19600. You calculated A so that the interest alone would be 37240, not the total amount: 41377.7*.9= 37240. 
June 19th, 2018, 11:02 AM  #4 
Global Moderator Joined: Dec 2006 Posts: 19,713 Thanks: 1806 
The given answer assumes that Anoop made the deposit described when his son turned six years old, not simply "when his son was six years old".


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