Question

If the interest on Rs 300 is Rs 15 for a particular period, what will be the interest on Rs 450 for the same period and at the same rate of interest?

Answer 1

Let the sum=P Rs.

S.I=50 Rs.

Rate of interest=5 %

Time =2 years.

S.I=100P×R×T

50=100P×5×5

P=5×250×100=500Rs.

C.I. of 500 Rs

Amount=500(1+1005)2

⇒500×100105×100105

⇒500×2021×2021

⇒551.25

C.I=551−500−51.25Rs.