If the amount of Rs. 360 in 3 years is Rs. 511.20, what will be the amount of Rs. 700 in
5 years.
(a) 1190 (b) 1230 (c) 1112 (d) 1234
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Simple Interest is (360-300)=Rs60
by using the formula of simple interest we can find the rate percant
SimpleInterest=
100
P×T×R
60=
100
300×4×R
60=12R
R=5%
If the rate of interest is increased by 1% rate will be 6%
Amount will be=Principal+ Simple interest
Simple interest will be==
100
300×4×6
=72
Amount will be=(300+72)=Rs372
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