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Question
In what time will the interest on a certain sum of money at 6% be `5/8` of itself?
Solution
Let P = Rs.8
Interest = Rs.`8xx5/8` = Rs.5
R = 6%
T =`(100xx"I")/("P"xx"R")`
`=(100xx5)/(8xx6)`
`=500/48=125/12` years
`=10 5/12` years
= 10 years 5 months
`[∵ 5/12"year"=5/12xx12 "months"=5 "months"]`
∴ Time = 10 years 5 months
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