Question

a bank gives lone of amount 3 lakhs to a man rate 8 percent at simple intrest after three years the rate becomes double for thr same amount of money
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Answer 1

Answer:

The Total amount after 8 years will be Rs. 7,08,000/-

Step-by-step explanation:

Given,

P = Rs. 3,00,000

According to questions, there are 3 cases:

Case 1:

T = 3 yrs

R = 8 %

∴ S.I =  

       

      = Rs. 72,000

Case 2:

After 3 years Rate will be double

T = 3

R = 16 %

∴ S.I =  

       

      =  Rs. 1,44,000

Case 3:

again after 3 year rate will be double

T = 2

R = 32 %

∴ S.I =  

      =  

      = Rs. 1,92,000

Therefore, Total amount after 8 years is;

= Rs. 3,00,000 + Rs. 72,000 + Rs. 1,44,000 + Rs. 1,92,000

= Rs. 7,08,000/-