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 rs1 lakh amount to in 3years

Answer 1

Given : At a certain rate of simple interest Rs 4050 amounts to Rs 4576.50 in 2 years .

Let rate of simple interest = r  , Principle amount =  P = 4050  , Time ( In years ) = t = 2 years

We know simple interest = P × r × t100 , Then we get
4050 + 4050 × r ×2100 = 4576.50⇒4050 × r 50 =526.5⇒81 r =526.5⇒r =526.581⇒r =6.5 %
Therefore,

At same rate 1 lakh amount to in 3 years will became  = 100000 +100000 × 6.5 × 3100 = 100000 +1000 × 6.5 × 3 = 100000 + 19500 =Rs.119500          ( Ans )

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