Question

Asum of money at simple interest amounts to rs24000 in 4years .if the rate of interest is increased by 20precent. The same sum amounts to rs 25800 in the same time the original rate of interest us

Answer 1

Answer:

Step-by-step explanation:

Given that A sum=24000 in T=4 year;

Rate of interest=?;

Sum is 25800 in the 4 yr when R is increase by 20%;

So new interest is 1.2R;

Amount=Principal + Interest=$P(1+\frac{RT}{100})$;

Please find the attached image

Answer 2

Answer:

Rate of interest = 241%

Step-by-step explanation:

Simple interest  formula:-

$I=\frac{PNR}{100}$

P - principle amount

I - simple interest

R - rate of interest

N - number of years

Case 1:- Asum of money at simple interest amounts to rs24000 in 4years

P =  R =  R  N = 4 yeras, A = 24000

Amount $A₁=P+\frac{PNR}{100}$

$</strong>24000<strong>=P+\frac{4PR}{100}$

case 2:- .if the rate of interest is increased by 20%

P = ? R=  ?  N = 4 yeras, A = 25800

Amount $A₂=P+\frac{PNR}{100}$

$</strong>25800<strong>=P+\frac{4P(R+20)}{100}$

To find the difference in the amounts

A₂ - A₁ = 25800 - 24000 = 1800

$P+\frac{4P(R+20)}{100}-[P+\frac{4PR}{100}]=1800$

$\frac{4P(R+20)}{100}-\frac{4PR}{100}=1800$

To find P and R

$\frac{4P(R+20-R)}{100}=1800$

$\frac{4P(20)}{100}=1800$

$\frac{80P}{100}=1800$

P = 2250

To find Rate of interest

$P+\frac{4PR}{100}=24000$

$P+\frac{4*2250*R}{100}=24000$

$\frac{4*2250*R}{100}=21750$

R = 241