The amount rps.2100 became rps 2352 in 2 years at simple interest. If the interest rate is decreased by 1%, what is the new interest?
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P = Rs. 2100
A = Rs. 2352
SI = A - P = 2352 - 2100 = Rs. 252
T = 2years
R = ?
SI = PTR/100
⇒ 252 = 2100*2*R/100
⇒ 252 = 42R
⇒ R = 252/42 = 6%
If R is decreased by 1%,
R = 6-1 = 5%
SI = PTR/100 = 2100*2*5/100 = Rs. 210
∴New SI = Rs. 210
A = Rs. 2352
SI = A - P = 2352 - 2100 = Rs. 252
T = 2years
R = ?
SI = PTR/100
⇒ 252 = 2100*2*R/100
⇒ 252 = 42R
⇒ R = 252/42 = 6%
If R is decreased by 1%,
R = 6-1 = 5%
SI = PTR/100 = 2100*2*5/100 = Rs. 210
∴New SI = Rs. 210
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