Question

A sum of rs 400 amount to rs 480 in 4 year what will it amount to if the rate of interest is increased by 2% pa?
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Answer 1

Answer:

Step-by-step explanation:

C) Rs.512

Description for Correct answer:

Principal = Rs.400, Amount = Rs.480

Simple Interest = Rs.(480−400)

=Rs.80

Time = 4 years

Rate in percentage =SI×100P×T

Rate in percentage =80×100400×4=80001600=5%

New rate of interest

=(5+2)=7%

Interest=400×7×4100=112

Hence amount=Rs.(400+112)