Question
An amount of Rs. 2,500 invested at a simple interest
rate of r% per annum grows to Rs. 4,930 in 6 years. Using the same rate of interest, in how many years will Rs. 600 grow to Rs. 818.70 under simple interest?Solution
ATQ; 4930 - 2500 = {(2500 X r X 6)/100}
Or, 2430 X 100 = 2500 X r X 6
So, r = 16.2
Let required number of years be 't'.
So, (818.7 - 600 = {(600 X 16.2 X t)/100}
Or, 218.7 X 100 = 600 X 16.2t
Or, t = 2.25
So, in 2.25 years Rs. 600 will amount to Rs. 818.7
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