A certain principal amounts to Rs 620 in 6 years at the simple rate of interest 4% per year. Find in how many years the principal will amount to Rs 700 at double the rate of interest?
...Please tell the correct answer.. guys
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Answer:
5 year
Step-by-step explanation:
Let principal is x, R=4% & T=6 yr
A=SI+P
=
100
x×4×6
+x
620=
100
124x
124
620×100
=x
x=500
Rate of interest now =2×4% =8%
A=SI+P
700=
100
500×8×T
+500
⇒200=40T
T=5 yr
Answer =5 years.
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