Question

Ram gets Rs. 2600 for Rs.
2000 in 5 years at some rate
of simple interest. Had he
invested in other places where
rate of simple interest is 3%
more than current rate, how
much would have R im got in
same time?​

Answer 1

Answer:

6000 (8389jdkfjfjffj

Answer 2

Given: Amount = Rs. 2,600

           Principal = Rs. 2,000

           Time = 5 years

To find: If Ram had invested the same amount in other places for same time at 3% more than current rate, how much amount he would get

Let: Current rate of interest be $R$

Solution: Given that,

Principal (P) = Rs. 2,000

Amount (S) = Rs. 2,600

Time (T) = 5 years

Rate of interest (R) = R

∵ Amount = Principal + Simple Interest

∵ Simple Interest = $\frac{P \ * \ R \ * \ T}{100}$

∴ Amount = Principal + $\frac{P \ * \ R \ * \ T}{100}$

⇒ 2,600 = 2,000 + $\frac{2,000 \ * \ R \ * \ 5}{100}$

⇒ 2,600 - 2,000 = $\frac{10,000R}{100}$

⇒ 600 × 100 = 10,000R

⇒ $R = \frac{60000}{10000} = 6$%

Now, if new rate = 6 + 3 = 9%

∴ Amount = Principal + $\frac{P \ * \ R \ * \ T}{100}$

⇒ $2,000 + \frac{2,000 \ * \ 9 \ * \ 5}{100}$

⇒ $2,000 + \frac{90,000}{100}$

⇒ $2,000 + 900 = Rs. \ 2,900$

Hence, if Ram had invested in other places where rate of simple interest is 3% more than current rate, he would get Rs. 2,900 i.e., Rs. 900 more than current amount in the same time.