rupees 600 become 690 in 2.5 years if the rate is increased by 8% what will be the interest in the same time
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Step-by-step explanation: According to the question
The principal = 600
Interest = 90
years = 2.5 years
we can write in 2.5 years like 24 + 5 months = 29 months
Rate = ?
We have to find out the rate of interest by the simple interest formula
SI = P × R × T / 100
90 = 600 × R × 29 / 12 × 100
90 = 600 × R × 0.024166
90 = 14.5 × R
90 / 14.5 = R
6.20 = R
So the Rate of interest be 6.20 %
If the Rate of interest increased by 8% , then the new percent be 14.20 %.
We now that Principal is 600
Rate = 14.20 %
time = 29 /12
Simple interest is
SI = P × R × T / 100
SI = 600 × 14.20 × 29 /12 × 100
SI = 600 × 14.20 × 0.02416
SI = 205 .84
The new interest be 205.8
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