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 would Rs 1 lakh amount to in 3 years ?

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Answer 1

Here,

P = Rs 40000

A = Rs 4576.50

T = 2 years

Interest = Amount – Principal

= Rs 4576.50 – Rs 4050

= Rs 526.50

Let the rate of simple interest = R% per annum

Then,

R = (I × 100) / (P × T)

= (526.50 × 100) / (4050 × 2) % p.a.

On further calculation, we get,

= (526.50 × 10) / (405 × 2) % p.a.

= 5265 / 810 % p.a.

We get,

= 6.5% p.a.

Now,

P = Rs 1 lakh

= Rs 100000

R = 6.5% p.a.

T = 3 years

I = (P × R × T) / 100

= Rs (100000 × 6.5 × 3) / 100

We get,

= RS 1000 × 6.5 × 3

= Rs 19500

Amount = Principal + Interest

= Rs 100000 + Rs 19500

= Rs 119500

Answer 2

Answer:

Here,

P = Rs 40000

A = Rs 4576.50

T = 2 years

Interest = Amount – Principal

= Rs 4576.50 – Rs 4050

= Rs 526.50

Let the rate of simple interest = R% per annum

Then,

R = (I × 100) / (P × T)

= (526.50 × 100) / (4050 × 2) % p.a.

On further calculation, we get,

= (526.50 × 10) / (405 × 2) % p.a.

= 5265 / 810 % p.a.

We get,

= 6.5% p.a.

Now,

P = Rs 1 lakh

= Rs 100000

R = 6.5% p.a.

T = 3 years

I = (P × R × T) / 100

= Rs (100000 × 6.5 × 3) / 100

We get,

= RS 1000 × 6.5 × 3

= Rs 19500

Amount = Principal + Interest

= Rs 100000 + Rs 19500

= Rs 119500

Step-by-step explanation: