The simple interest on a sum of ₹ x at 8.5% p.a for 12 years is ₹3,298 less than the amount of the same sum invested at the same rate for 4 45 years at simple interest. The value of x is:

Explanation

Given: Sum = ₹ x Rate = 8.5% Difference = ₹3,298 Concept used: S.I = (P × T × R)/100 Amount = S.I + P Here, P = Sum T = Time R = Rate Calculation: 4 45 = 24/5 ​ According to the question, x + x×8.5×24 − x×8.5×12 = 3298 100×5 100 ​ ​ ⇒ x + 40.8x − 102x = 3298 100 100 ​ ​ ⇒ 100x+40.8x−102x = 3298 100 ⇒ 38.8x = 3298 100 ⇒ x = 85 100 ​ ​ ​ ⇒ x = 85 × 100 ⇒ x = 8500 ∴ The value of x is 8,500.