Question

Sum of rupees 600 amount to 720 in 4 years at the rate of simple interest what will it amount to if the rate of interest is increased by 2%.

Answer 1

Answer:

sum of rupees= rs 600

amount= rs 720

time=4 years

rate of intrest = si ×100/t × p

120 × 100/4× 600 = 5%

rate of intrest = 5%

rate of intrest increased = 2%

present rate of intrest = 7%

principle = rs 600

rate of intrest = 7%

time= 4 years

Si= p×r×t/100

=600×7×4/100

=rs 168

amount =p+si

=rs600+rs168

=rs 768