Question

A sum of 3000 becomes 3600 in 3 years at 15 percent per annum. What will be the sum at the same rate after 9 years.

Answer 1

The sum will be Rs. 7050 at the same rate after 9 years.

Step-by-step explanation:

Given, Principal = P = Rs. 3000

Amount = A

Time = T = 9 years.

Rate = R = 15 %

S.I = Simple interest = $\frac{PRT}{100}$ = $\frac{3000 \times 15 \times 9}{100}$ = Rs. 4050

Amount = A = P + S.I = 3000 + 4050 = Rs. 7050

Hence, the sum will be Rs. 7050 at the same rate after 9 years.