A sum of rupee 4060 in 4 years at a certain rate of interest. In what time will rupee 6000 amount to rupee 7200 at the same rate of interest?
EXPLANATION -
formula is attached... this question is from simple interest.
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Answer:
Given, P= Rs. 6000, Amount = Rs. 7200, Time =4 years
S.I. =A−P= Rs. 7200− Rs. 6000
S.I = Rs. 1200
∴ Rate = ( 1200×100 ) %p.a.=5%p.a.
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6000×4
New rate =1.5×5=7.5%p.a.
∴ Required amount = Rs. 6000+ Rs.
6000×7.5×5
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10 = Rs. 6000+ Rs. 2250
= Rs. 8250
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