Question

In 4 years, 6500 amounts to 8840 at a certain rate of interest. In what time will 1600
amounts to 1816 at the same rate?

Answer 1

Interest in 4 years = 8840-6500=2340

Rate = Interest*100/(principe*time)
= 2340*100/(6500*4) = 9

Then,

Principle=1600
Amount =1816
Interest = 1816-1600 = 216
Rate = 9%

Time= interest *100/(principle*rate)
= 216*100/(1600*9)
= 1.5 years

Answer 2

Answer:Interest in 4 years = 8840-6500=2340

Rate = Interest*100/(principe*time)

= 2340*100/(6500*4) = 9

Then,

Principle=1600

Amount =1816

Interest = 1816-1600 = 216

Rate = 9%

Time= interest *100/(principle*rate)

= 216*100/(1600*9)

= 1.5 years

Step-by-step explanation: