Question

In 8 years ₹ 40000 amounts to ₹ 50000. In what time will ₹21000 amount to ₹ 28000 at the same rate.​

Answer 1

Answer:

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Class 11

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>>Basics of financial mathematics

>>Accumulation with simple and compound interest

>>Rs.4,000 amount to Rs.5,000 in 8 years;

Question

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Rs.4,000 amount to Rs.5,000 in 8 years; in what time will Rs.2,100 amount to Rs.2,800 at the same rate ?

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Solution

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Correct option is A)

Simple Interest S.I.=

100

P×R×T

Given,

Amount A=Rs5000

P=Rs4000

I=A−P=5000−4000=Rs1000

T=8 years

So, 1000=

100

4000×R×8

⇒1000×100=32000×R

⇒R=3.125 %

Now, we need to find T when A=Rs2800;P=Rs.2100

⇒I=2800−2100

=Rs700

So, Rs700=

100

2100×3.125×T

⇒700×100=6562.5×T

⇒T=10years8months

Answer 2

Answer:

10 year 8 month please subscribe