How long will it take rupees invested at rate 6% p.a. simple interest amount to 3100
Answers
Answer:
The simple interest for 4 years given =3100−2500= Rs. 600
Then the rate of interest =
PT
S.I.×100
⇒R=
2500×4
600×100
⇒R=6%
After increase of 4%, the new rate of interest =10%
S.I. at this rate of two years =
100
2500×10×2
=500
Therefore, Amount = Principal + simple interest
Amount =2500+500= Rs. 3000
Step-by-step explanation:
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Answer:
Therefore, it will take 3 years for rupees 2500 invest at the rate of 8% per annum simple interest to rupee 3100
Step-by-step explanation:
Principal = Rs.2500
Rate of interest = 6%
Amount = Rs.3100
Simple Interest = Amount - Principal
= 3100 - 2500
= Rs.600
Time = SI × 100/R × P
= 600 × 100/6 × 2500
= 60000/20000
= 3 years
Therefore, it will take 3 years for rupees 2500 invest at the rate of 8% per annum simple interest to rupee 3100
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