Question

9. A sum of 600 amounts to * 720 in 4 years. What will it amount to if the rate of interest is
increased by 2%?​

Answer 1

P=Rs.600

SI=720−600=Rs.120

T=4 years.

Hence,

R=

PT

SI×100

600×4

120×100

=5%

Now rate is increased by 2%.

So new rate=7%

SI=

100

600×4×7

=Rs.168

Hence new amount=168+600=Rs.768