Question

A sum of 500 rupees amount to 660 rupees in 4 years .what will it amount to if the rate of interest is increased by 1%
(Help me plz )​

Answer 1

Answer:

p=Principal amount

n=Number of years

r=rate of interest

Total amount=p+100p×n×r

Total amount=6600

n=4 years

r=8% p.a

We have to find the principal amount

⇒6600=p+100p×4×8

⇒6600=p+10032p

⇒6600=p+258p

⇒165000=33p

⇒p=5000

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Answer 2

Step-by-step explanation:

Given that,

Principle=Rs.500

Rate of interest=3%

AmountRs.600

Simple interest =amount -principal

=660−500=Rs.50

S.I=

50

p×r×t

50=

50

500×5×t

t=

500×5

50×50

1

Then,

We get time will be 4 years.