Question

At a certain rate of simple interest Rs. 4050 amounts to Rs. 4576.50 in 2 years. At the same rate of interest, how much would Rs. 1 lakh amount to in 3 years.​

Answer 1

P=4050

A=4576.50

T=2

A=P(1+(RT/100))

4576.5=4050(1+2R/100)

1.13=1+2R/100

0.13=2R/100

2R=13

R=6.5%

P=1,00,000

T=3

R=6.5%

A=100000(1+(6.5×3)/100)

A=100000×1.195

A= ₹1,19,500/-