Question
Download Solution PDFRs. 8,500 becomes Rs. 11,050 in 6 years at a certain rate of simple interest. If the rate becomes 1.8 times of itself, the amount of the same principal in 5 years will be:
Answer (Detailed Solution Below)
Detailed Solution
Download Solution PDFGiven:
Principal = Rs.8500
Time = 6 years
Amount = Rs.11050
Formula used:
Amount = S.I + P
S.I = (P × R × T)/100
Where, P = principal; T = time; R = rate
Calculation:
S.I for 6 years = 11050 - 8500 = Rs.2550
Rate = (S.I × 100)/(P × T)
⇒ (2550 × 100)/(8500 × 6)
⇒ 425/85 = 5%
New rate % = 5 × 1.8 = 9%
S.I = (P × R × T)/100
⇒ (8500 × 9 × 5)/100
⇒ 85 × 9 × 5 = Rs.3825
Amount = 8500 + 3825 = Rs.12325
∴ The correct answer is Rs.12325.
Last updated on Jul 12, 2025
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