Question

Rs.300 amount to rs. 360 in 4 year. If the rate of interest is increased by 1% then in the same time what will be the amount

Answer 1

Answer:

LET THE RATE OF INTEREST BE X

PRINCIPAL = 300

AMOUNT = 360

TIME = 4 YEARS

WE KNOW THAT,

S.I. = AMOUNT-PRINCIPAL

AND ALSO

S.I. = P×R×T/100

THEREFORE ACCORDING TO THE QUESTION,

360-300=300×4×x/100

60= 12x

60/12=x

5=x

THEREFORE X THAT IS RATE OF INTEREST IS 5%

IF THE RATE OF INTEREST IS INCREASED BY 1% THEN THE AMOUNT WILL BE

PRINCIPAL=300

RATE OF INTEREST = 6%

TIME= 4 YEARS

THEREFORE

S.I. = P×R×T/100

300×6×4/100

= 72

AMOUNT = SIMPLE INTEREST+PRINCIPAL

AMOUNT = 300+72 = 372

ANSWER IS 72

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