Question

at a certain rate of simple interest rs 4050 amounts to rs 4576.50 in 2 years .At the same rate of simple interest how much rs 1 lakh amount to in 3 years

Answer 1

let the rate be x
formula of si = PRT ÷ 100
so. 4050 × x × 2 ÷100 = 4576.5
is equal to 56.5%
So, 1 lakh × 56.5 × 3 ÷100 = 169500

Answer 2

It will be Rs. 119500 when Rs. 1 lakh are deposited with rate of interest as the previous for a period of 3 years.

• Given principal amount is 4050 RS, number of years is 2 and the total amount is Rs. 4576.5.
• Simple interest will be total amount - principal amount = 4576.5 - 4050 = 526.5 Rs.
• We use the formula of Simple interest as SI =pnr/ 100.
• Substituting the values we get,

4050 × r × 2 ÷ 100 = 526.5

r = 6.5

Rate of interest = 6.5% p.a

• Now we have to calculate the amount that will receive for the amount of 1 lakh using the same rate of interest and for a period of 3 years.

• We calculate simple interest first,

SI = 100000 × 3 × 6.5 ÷ 100

SI = 19500 Rs.

• Now the total amount will be, principal amount + Simple interest = 100000 + 19500 = 119500 Rs.