Question

If Rs. 5 becomes Rs. 5.75 at simple interest in 3 years, what will amount Rs. 600 become in two years? (A) Rs. 690 (B) Rs. 660 (C) Rs. 760 (D)Rs. 630

Answer 1

Explanation:

Correct option is

C

Rs 690

Simple interest =

100

PTR

=

100

600×3×5

=Rs90

Amount =Principal+Interest=600+90=Rs690

Answer 2

Given:

Prinicipal=Rs.5

Amount=Rs.5.75

Years=3

To find:

Amount including interest on Rs.600 for 2 years

Solution:

The required amount is Rs.660. (Option B)

We can calculate the amount by determining the interest rate using the values given above.

The interest on Rs.5=Amount- principal

Interest=5.75-5

=Rs.0.75

Now, we will obtain the interest rate.

Interest=Principal×rate×years/100

Using the values, we get

0.75=5×rate×3/100

75/100=5×rate×3/100

75/15=rate

5%=rate

So, the interest on Rs.600 will be determined as follows-

Interest=600×5×2/100

=6×10

=Rs.60

The amount including interest=Principal+interest

On adding the values,

=600+60

=Rs.660

Therefore, the required amount is Rs.660.