Question

A sum of money becomes Rs. 2000 in 4 yrs at the rate of 10 % per year simple interest. What will it amount in 5yrs at rate of 14 % per year.

Answer 1

total amount = P(1+(RT)/100)

2000=P(1+(10×4)/100)

2000=P(1+4/10)

2000=P(14/10)

P=(2000×10)/14

P=1428.57

the total amount after 5 year with 14%p. a

A=P(1+(RT/100))

A=1428.57(1+(14×5)/100)

A=1428.57(1.7)

A=2428.57