Question

rs.800 amounts to rs.9760 at 11% per annum.if interest rate is decreased by 2% to how much would it amount.
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Answer 1

Answer:

Rs.8,130.88

Step-by-step explanation:

Let's assume that, the investment period is x years.

∴ Rs. 9760 = Rs. 800(1 + x . 11/100) = Rs. 800 + Rs. 88x

∴ 88x = (9760 - 800) = 8960

∴ 11x = 1120

∴ x = 1120/11 years.

If interest rate is decreased by 2%, then the revised interest rate =(11-2)% = 9%

The Amount will be = Rs. 800(1 + 1120/11 . 9/100) = Rs. 800x(1 + 9.1636) = Rs.800x10.1636 = Rs.8,130.88