Question

₹ 8000 amounts to ₹ 9760 at 11 percent per annum. If interest rate is decreased by 2% ,to how much would it amount

Answer 1

$\sf\underline{Step-by-step \: explanation}$

To find out the amount in in 2nd case, we need to find amount in the first case.

Given,

S.I. = Rs. 1760 (A - P = 9760 - 8000)

P = Rs. 8000

R = 11 %

T = x

Method,

T =

$\tt\dfrac{si \: \times \: 100}{p \: \times \: r}$

Solving,

x =

$\tt\dfrac{1760 \: \times \: 100}{8000 \: \times \: 11}$

After Cancellation...

2 years.

2nd Case,

A = S.I + P

A = S.I. + Rs. 8000

[As the rate is changed, S.I will also be changed]

P = 8000

R = 9 % [11 - 2 = 9 %]

T = 2 years [As solved above]

S.I = x

Method,

$\tt\dfrac{prt}{100}$

Solving,

$\tt\dfrac{8000 \: \times \: 9 \: \times \: 2}{100}$

After Cancellation..

Rs. 1440 (S.I)

A = P + SI

A = Rs. 8000 + Rs. 1440

A = Rs. 9440

Hence, the amount with a 2 % less rate will be, Rs. 9440