Question

Anil invests a sum of Rs. 600 in a scheme offering simple interest, which amounts
to Rs 780 after two years. If the rate of interest is increased by 5%, the same sum
would amount to how much in the same time when invested in the same scheme​

Answer 1

Answer:

Given:

P=Rs.600

SI=720−600=Rs.120

T=4 years.

Hence,

R=PTSI×100=600×4120×100=5%

Now rate is increased by 2%.

So new rate=7%

SI=100600×4×7=Rs.168

Hence new amount=168+600=Rs.768