A sum of rs.600 amounts to rs. 750 in 4 years .What will it amount to if the rate of interest is increased by 3/4%
Answers
Given data : A sum of Rs 600 amounts to Rs 750 in 4 years.
To find : What will it amount to if the rate of interest is increased by 3/4 % ?
Solution : A/C to question;
- Principal amount= Rs 600
- Total amount = Rs 750
Hence,
➜ Total amount = principal amount + simple interest
➜ 750 = 600 + simple interest
➜ simple interest = 750 - 600
➜ simple interest = Rs 150
Here, time period = 4 years.
We have to find out, rate of interest on principal amount Rs 600. So now, by formula of simple interest
➜ S.I = (P*R*T)/100
Where,
- S.I = simple interest
- P = principal amount
- R = rate of interest in %
- T = time period
➜ S.I = (P * R * T)/100
➜ 150 = (A sum of rs.600 amounts to rs. 750 in 4 years 600 * R * 4)/100
➜ 150 * 100 = 600 * 4 * R
➜ 15000 = 2400 * R
➜ R = 15000/2400
➜ R = 25/4 %
Here, we know that, rate of interest is increased by 3/4 %. Hence, new rate of interest is
➜ New rate of interest = 25/4 + 3/4
➜ New rate of interest = (25+3)/4
➜ New rate of interest = 28/4
➜ New rate of interest = 7 %
Now,
➜ S.I = (P * R * T)/100
{Here, R = 7 %}
➜ S.I = (600 * 7 * 4)/100
➜ S.I = (600 * 28)/100
➜ S.I = 16800/100
➜ S.I = Rs 168
Now,
➜ New amount = principal amount + simple interest
➜ New amount = 600 + 168
➜ New amount = Rs 768
Answer : Therefore, when rate of interest is increased by 3/4 % then we get Rs 768.
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Answer:
The Amount will be RS 768.
Step-by-step explanation:
We Have given in the question.
Principle amount = 600
after 4 years of time, it becomes 750 of amount.
Hence, time = 4 years
SI = 750 - 600 = 150
Now, we will find the Rate of interest
which is equal to
R = SI × 100 / PT
Where R is the rate of interest, P is the Principle amount and T is the Time.
After putting the value in the equation We get.
R = 150 × 100/ 600×4
=> 150/24 = 6.25
Now, Rate is increased by 3/4% we can right it as 0.75%
So, New rate is = 6.25+0.75 = 7 %
SI = 600 × 4 × 7/100
=> 168
Hence, new amount is == 168 + 600 = 768
which is the required Answer.
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