Suman borrowed certain money which amounted to *8260 at 9% per annum simple interest
in 2 years. What will it amount in 5 years at 11% per annum simple interest?
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Answer:
Amount = ₹8260
Let the principal be x.
SI = (Principal × rate p.a. × Time) ÷ 100
= ( x × 9 × 2) ÷ 100
= 18x/100 = 9x/50
Amount = SI + Principal
₹8260 = 9x/50 + x
₹8260 = (9x + 50x) ÷50
₹8260 × 50 = 59x
₹413000 = 59x
x = ₹413000 ÷ 59
= ₹7000
Now,
SI = (Principal × rate p.a × Time) ÷ 100
= (₹7000 × 11 × 5) ÷ 100
= ₹ 70 × 11 × 5 [ 7000÷ 100 = 70]
= ₹3850
Amount = SI + Principal
= ₹3850 + ₹7000
= ₹10850
Step-by-step explanation:
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