Question

A borrowed amount of 4000 amounts of 5400 in 5years. How much will 5600 amount to in 3years at the same rate?

Answer 1

Answer:

Answer is in attachment hope it helps

Answer 2

Answer:

4628.1 rupees will 5600 amount to in 3years at the same rate.

Step-by-step explanation:

Given, in 5 years 4000 money converts to 5400.

Here, principal = 4000 rupees , time = 5 years, simple interest = $5400 - 4000 = 1400 \: rupees$

By simple interest rule,

Simple interest $= \frac{ prt}{100}$

Where p is principal,r is rate of interest and t is time.

Here,

$p = 4000 \: rupees \\t = 5 \: years$

So,

$1400 = \frac{4000 \times r \times 5}{100} \\ r = \frac{1400 \times 100}{4000 \times 5} \\ r = 7$

Therefore rate of interest is 7%.

Again given amount

$= 5600 \: rupees$

rate of interest $= 7\%$

and time $= 3 \: years$

We know by simple interest rule,

Amount

$= p + \frac{prt}{100} \\ 5600 = p + \frac{p \times 7 \times 3}{100} \\ 5600 = p + \frac{21p}{100} \\ 5600 = \frac{100p + 21p}{100} \\ 121p = 5600 \times 100 \\ p = \frac{560000}{121} \\ p = 4628.1$

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