Question

In 3 years ₹ 4000 amounts to ₹ 4720 at a certain rate of interest. How much will ₹ 5600 amount to in 4 years at the same rate of interest?

Answer 1

$\huge\bf\underline{\underline{Given:}}$

In 3 years ₹ 4000 amounts to ₹ 4720 for rate R.

$\huge\bf\underline{\underline{To\: find:}}$

Amount for ₹ 5600 in 4 years at interest R.

$\huge\bf\underline{\underline{Solution:}}$

Case - I

Principal = Rs.4000

Time = 3yrs

Rate = R

Amount = Rs.4720

Amount = Principal +Interest

4720 = 4000 + Interest

$\boxed{\red{Interest = Rs.720}}$

$Interest = \frac{P\times R \times T}{100}\\ \\720 = \frac{4000 \times R \times 3}{100}\\ \\R = \frac{720 \times 100}{4000 \times 3}\\ \\R = \frac{72}{12}$

$\boxed{\red{R= 6\%}}$

Case - II

Principal = Rs.5600

Time = 4yrs

Rate = R = 6%

$Interest = \frac{P\times R\times T}{100}\\ \\Interest = \frac{5600\times 6 \times 4}{100}$

$\boxed{\red{Interest = Rs.1344}}$

$Amount =Principal + Interest \\ Amount = 5600 + 1344$

$\boxed{\red{Amount=Rs.6944}}$

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