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In 4 years, an amount of ₹ 6,000 becomes ₹ 8,000 at a certain rate of simple interest. In what time at the same simple interest rate, will an amount of ₹ 525 become ₹ 700?
According to question,
In 4 years, an amount of ₹ 6,000 becomes ₹ 8,000 at a certain rate of simple interest.
So, simple interest = ₹ (8,000-6,000) = ₹ 2,000
Now, S.I. = P*r*t/100
so, $$2000=\frac{6000\times\ r\times\ 4}{100}$$
or, r= $$\frac{50}{6}$$%
Now, in second case, simple interest = $$700-525=175$$
So, $$175=525\times\ \frac{50}{6}\times\ \frac{t}{100}$$
or, $$t=175\times\ \frac{12}{525}=4$$
So, time = 4 years
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