Question

1,200 amounts to 1680 in 5 years. What will 560 amount in 8 years at same rate of interest?​

Answer 1

Answer:

P=Rs.1200,A=Rs.1632,t=4

A=P+

100

P×r×t

⟹1632=1200

100

1200×r×4

⟹r=9%

Now if rate is increased by 1% then r=(9+1)%=10%then amount will be,

A=P+

100

P×r×t

⟹A=1200

100

1200×10×4

⟹A=Rs.1680