Question

A principal amounts to Rs. 1080 in 2 years at the rate of 10% per year, then how much will it amount to in 5 years at the rate of 7% per year?

Answer 1

here your answer
1458

Answer 2

Answer:

This answer is not correct

Let the principal be Rs. 100

S.I. for 1 year on Rs.100 = Rs.10

S.I. for 2 years on Rs. 100 = Rs.10 × 2= Rs.20

When principal is Rs.100, Amount is Rs.100 + 20 = Rs.120

Now,

When amount is Rs.120, principal is Rs.100

When amount is Re.1, principal is Rs.100/120

When amount is Rs 1080,principal is Rs.100/120×1080=900

Again,

When principal is Rs.900, Time = 5 years, Rate = 7% per year.

S.I. = p×r×t/100

=900×7×5/100

=Rs.315

Now,

Amount =Principal + Interest

=Rs. 900+315

=Rs.1215

Therefore, Amount = Rs.1215

Hope helpful