A sum of rs.600 amounts to rs.720 in the years. what
will at amount to if the rate
of intrest is increased by 2 %
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Answer:
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Explanation:
Interest = Amount - Principal
=720-600=120rs.
Simple Interest = P*R*T/100
120=600*4*R/100=24R
R=5%p.a.
New Interest= 600*7*4/100=168
Amount=Interest + Principal=600+168
=Rs.768
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