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%.
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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
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