A certain sum is invested at simple interest at 18% p.a. for two years instead of investing at 12% ...

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A certain sum is invested at simple interest at % p. A. For two years instead of investing at % p. A. For the same time period. Therefore the interest received is more by $. Find the sum?

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Calculated Answer

5000

Step by Step Solution

In order to solve problem, you must evaluate n₂ / (((n₀ - n₁) * 2) / 100).

• n₂ / (((n₀ - n₁) * 2) / 100)

• Evaluate n₀ - n₁ = 6

  n₂ / ((6 * 2) / 100)

• Evaluate 6 * 2 = 12

  n₂ / (12 / 100)

• Evaluate 12 / 100 = 0.12

  n₂ / 0.12

• Evaluate n₂ / 0.12 = 5000

  5000
• The answer to the problem and the result of n₂ / (((n₀ - n₁) * 2) / 100) is 5000