A sum invested for 3 years at 8% p.a. simple interest becomes to Rs. 8000 . What will it amount to in 4 years at 12% p.a. simple interest ?
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Step-by-step explanation:
Time =3
Rate=8%
Simple interest=8000
Principal=Let it be P
P*R*T/100=Simple interest
P*8*3/100=8000
P=8000*100/24
P=100000/3
P=100000/3
If the
Time =4
Rate=12%
Principal=100000/3
Simple interest =4*12*10000/3*100
=4*4*100
=1600
Hence the simple interest is 1600.
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