A sum of money invested at 15% per annum amounts to ₹5200 in 2 years.What will be the amount in 4 years at the rate of 16% per annum.
Answers
Answer:
Rs.6560
Step-by-step explanation:
We are assuming that this is a case of simple interest
Part 1: To find the principal
P = initial amount in Rupees = ?
R = rate of interest per cent per year = 15
T = time period in years = 2
A = final amount at the end of period T in Rupees = 5200
SI = (P*R*T)/100
= (P*15*2)/100
= (30P/100)
A = P + SI
5200 = P + (30P)/100
5200 = 130P/100
130P = 520000
P = 4000
The initial amount (money invested) = Rs.4,000
Part 2: To find amount at the end of 4 years at the rate of 16 per cent per year
P = initial amount in Rupees = 4000
R = rate of interest per cent per year = 16
T = time period in years = 4
A = final amount at the end of period T in Rupees = ?
SI = P*R*T/100
= 4000*16*4/100
= 40*16*4
= 2560
A = P + SI
= 4000 + 2560
= 6560
The amount at the end of 4 years at 16% interest will be Rs.6560
Hope it's useful
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