Question

A sum of money plus its 4 years simple interest makes an amount of Rs. 1,000. If the interest is
increased by 20%, then money becomes Rs. 1,040 in the same time. Find out the principal
and rate of interest.​

Answer 1

Principal = 166.4

Step-by-step explanation:

Differences of simple interest, SI = 1040 - 1000

SI = 40

Then,

rate of interest,r = $\frac{40\times 100}{1000\times 4}$

r = 1 %

New rate, = 1 + 20

= 21 %

New SI = $\frac{1040\times 21\times 4}{100}$

= 873.6

Principal = $1040 - 873.6$

Principal = 166.4

Answer 2

Answer:

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