We have two investments:
- Investment A: ₹2200 at 6% per annum (time unknown)
- Investment B: ₹1650 at 9% per annum for 10 years
The simple interest on both investments must be equal.
For Investment B (₹1650 at 9% for 10 years):
Simple Interest =100Principal×Rate×Time
SI=1001650×9×10
SI=100148500
SI=₹1485
For Investment A, the simple interest must also equal ₹1485.
Given:
- Principal = ₹2200
- Rate = 6%
- Simple Interest = ₹1485
- Time = ?
1485=1002200×6×Time
1485=10013200×Time
1485=132×Time
Time=1321485
Time=11.25 years
Converting to years and months:
11.25 years =11 years +0.25 years
0.25×12=3 months
Therefore, the time required is 11 years and 3 months.