Question

If the sum of RS 1000amount to RS 1200 in two years what it will amount in four years if rate of interest increase by 2%

Answer 1

Let Rate be R

so, 200 = 1000*R*2/100

so, R = 10 %

so, if R = 12 %

then in four years SI = 1000*12*4/100 = Rs. 4800

Hence, Amount = 1000 + 4800 = Rs. 14800