Question

A sum of Rs. 600 amounts to
Rs. 720 in 4 years. What will it
amount to if the rate of
interest is increased by 2%?​

Answer 1

Answer:

Rs.768

Step-by-step explanation:

given

p=Rs.600

Si=720-600=Rs.120

T=4 y

Hence,

R= 120×100/600×4

=5%

Now rate is increased by2%

so new rate = 7%

Si = 600×4×7/100

=168

Hence new amount=168+600

=Rs.768

Answer 2

Step-by-step explanation:

Given

• Amount = ₹ 720
• Principal = ₹ 600

We know that

• Interest = Amount - Principal
• Interest = 720 - 600
• Interest = ₹ 120

Simple Interest = $\frac{ PRT }{ 100 }$

• 120 = $\frac{ 600 ~ × ~ 4 ~ × ~ R }{ 100 }$ = ₹ 24

Rate of interest = 5 %

Amount = Interest + Principal

• 600 + 168
• ₹ 768