Question

Find the rate of interest when the initial sum of money at the end of 3whole 2/5years becomes 6/5 times the sum. Calculate the amount after 5 years, if simple interest is Rs 998.
​

Answer 1

Answer:

The answer is Rs.4391.2

Step-by-step explanation:

Let initial sum of money be P

⇒P+

100

Prt

=

5

6P

⇒(1+

5×100

r×17

)=

5

6

⇒r=

17×5

5×100

=

17

100

%

SI after 5 years =998

⇒P×

17

100

×5×

100

1

=998

⇒P=Rs.3393.2

Amount =P+SI

=3393.2+998

=Rs.4391.2.

Hence, the answer is Rs.4391.2.