Math Problem Statement
A person invested ₹4,500 at 5% per annum and ₹5,500 at 8% per annum simple interest. Both investments were for 4 years. The amount obtained at the lower interest rate is what percent (rounded off to the nearest integer) of the amount obtained at the higher interest rate?
Solution
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Math Problem Analysis
Mathematical Concepts
Simple Interest
Percentage Calculation
Proportional Reasoning
Formulas
Simple Interest (SI) = (P × R × T) / 100
Percentage = (Amount1 / Amount2) × 100
Theorems
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Suitable Grade Level
Grades 8-10
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