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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In 1st case,
Principal = Rs. 4050
Amount = Rs. 4576.50
Therefore, Simple interest = Rs.(4576.50-4050) = Rs. 526.50
Time = 2 yrs
Therefore, Rate of interest = Simple interest × 100 ÷ Principal × Time = 526.50×100÷4050×2 = 6.5 % p.a.
Now,
In 2nd case,
Principal Rs. 1,00,000
Rate of interest = 6.5 % p.a.
Time = 3 yrs
Therefore, Simple interest = Principal×Rate of interest×Time÷100
=Rs. (1,00,000×6.5×3) = Rs. 19,500
Therefore, Amount = Rs. (1,00,000+19,500) = Rs. 1,19,500 [ANS]
Principal = Rs. 4050
Amount = Rs. 4576.50
Therefore, Simple interest = Rs.(4576.50-4050) = Rs. 526.50
Time = 2 yrs
Therefore, Rate of interest = Simple interest × 100 ÷ Principal × Time = 526.50×100÷4050×2 = 6.5 % p.a.
Now,
In 2nd case,
Principal Rs. 1,00,000
Rate of interest = 6.5 % p.a.
Time = 3 yrs
Therefore, Simple interest = Principal×Rate of interest×Time÷100
=Rs. (1,00,000×6.5×3) = Rs. 19,500
Therefore, Amount = Rs. (1,00,000+19,500) = Rs. 1,19,500 [ANS]
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