In 4 years ₹ 6000 amount to ₹ 8,000. In what time will ₹ 525 amount to ₹ 700 at the same rate?
Please explain in detail
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Step-by-step explanation:
In first case, Principal (P) = ₹ 6,000
Amount (A) = ₹ 8,000
∴ S.I. = A – P = ₹ 8,000 - ₹ 6,000
= ₹ 2000
Time (T) = 4 Years
∴ R = S.I. × 100/P × T = 2000 × 100/6000 × 4
= 25/3 % = 8. 1/3 % p.a.
In second case, Principal (P) = ₹525
Amount (A) = ₹ 700
∴ S.I. = A – P = ₹ 700 - ₹525
= ₹ 175
Rate (R) = (25/3)% of p.a.
∴ Time = (S.I. × 100)/ (P × R) = (Rs. 175 × 100 × 3)/(525 × 25) = 4 years
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