Question

At a certain rate of simple interest, Rs 10000 becomes Rs 12400 in 3 years. What
sum of money will become Rs 9900 in 4 years at the same rate of interest?

Answer 1

Answer:

Rs 7500

Step-by-step explanation:

                         PART 1

Principal= 10000

Amount= 12400

Time= 3 years

Simple Interest= ?

Simple interest= Amount-Principal

Simple interest= 12400-10000= 2400

Therefore: Rate of simple interest= 100 × SI ÷ Principal × Time

Rate= 100× 2400÷ 10000× 3

       = 8%

                        PART 2

Amount= Rs 9900

Time= 4 years

Rate= 8%

Simple interest= Rs 2400

Principal= ?

Principal= SI × 100 ÷ Rate × Time

Therefore: P = 2400 × 100 ÷ 8 × 4

     P= Rs 7500

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