Question

A sum of Rs 7000 amounts to Rs 8260 in 3 years at a certain rate of interest. In what time will Rs 5000 amount to Rs 6000 at the same rate of interest?

Answer 1

considering it simple interest;
S.I= Rs (8260-7000)=Rs.1260
rate=(1260*100)/7000*3
r= 6%
second case P=Rs 5000 S.I=1000
so time=(1000*100)/(5000*6) =10/3%(ans)

Answer 2

Answer:

Time = 5 years

Step-by-step explanation:

T be time

Rate =R

A be amount

A = p + (PTR/100)

8260 = 7000+(7000*3*R/100)

8260=7000+210*R

8260-7000=210*R

1260/210 =R

R =6

A = P +(PTR/100)

6500=5000+(5000*T*6/100)

6500=5000+(300*T)

6500-5000=300*T

1500/300=T

Time =5 years

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