Question

A certain sum of money amounts to Rs 1572 in 4years at 5% per annum. In how many years will it amount to Rs 1703 at the same
rate?
A. O5years
B. O 6 years
C4years
D. 3 years

Answer 1

Answer:

option (b) t=6 years

Step-by-step explanation:

Let the principal= x

rate of interest= 4%

time= 4 years

amount = 1572

simple interest= amount -principal

formula used:

simple interest = (principal*rate of interest*time)/100

1572-x=(x*4*5)/100

1572=(x/5)+x

1572=6x/5

x= 1310

principal= 1310

now. we have to calculate the time in which the amount becomes 1703 at 5 % interest rate.

simple interest = (principal*rate of interest*time)/100

amount- principal=simple interest

1703-1310= (1310*5*t)/100

393= (1310*5*t)/100

(393*100)/5*1310=t

t=6 years

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Answer 2

Answer:

No of years will take to amount to 1703 = 6 years

Correct answer is option(B) 6years

Step-by-step explanation:

Given

A certain sum of money amounts to Rs 1572 in 4years at 5% per annum

To find,

Number of years will it take to become Rs 1703 at the same

rate

Recall the formula

Simple interest  = S.I = $\frac{PTR}{100}$, where P is the principal, T is the time period and R is the rate of interest

Amount A = P + S.I

Solution

Given,

A certain sum of money amounts to Rs 1572 in 4years at 5% per annum, Then we have,

Amount (A)   = 1572

T = 4years

R = 5%

We have

S.I = $\frac{PTR}{100}$ = $\frac{PX4X5}{100}$ = $\frac{P}{5}$

A  = P + S.I

A = P +  $\frac{P}{5}$

1572 = $\frac{6P}{5}$

P = $\frac{1572X5}{6}$

P = 1310

Principal = 1310

Required to find number of years(T) such that P = 1310,  R = 5% and A = 1703

S.I = 1310 ×T×  5%

S.I = 65.5T

A = P + S.I

1703 = 1310 + 65.5T

65.5T = 1703 - 1310

= 393

T = 6

∴No of years will take to amount to 1703 = 6 years

Correct answer is option(B) 6years

#SPJ1