If Rs. 450/- amount to Rs. 504/- in three years at simple interest, what will Rs. 650/- amount in 2 years & 6 months the interest rate being the same in both cases?
Created: 6 years ago |
Updated: 2 years ago
best des
Here, 2 year 6 months = 2.5 years
Principal with simple interest, A = P( 1 + n r)
Now, 504 = 450( 1 + 3 × r)
or, 1 + 3r = 504/450
or, 3r = 504/450 - 1
or, 3r = (504 - 450) / 450
or, 3r = 54 / 450
or, r = 54 / (450 × 3)
or, r = 1/25
Again, A = 650( 1 + 2.5 × 1/25)
or, A = 650 × (25 + 2.5)/25
or, A = 650 × 27.5 / 25
So, A = 715 Rs.
Md Azizur Rahman
Founder of Satt
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