Question 92

If Rs.64 amounts to Rs.83.20 in 2 years, what will Rs.86 amount to in 4 years at the same rate per cent Simple Interest per annum?

Solution

let the rate of interest = R%

according to the question

interest in 2 years = 83.20 - 64 = 19.20

$$ SI = \frac{PNR}{100} $$

$$ R = \frac{SI \times 100}{PT} $$

= $$ \frac{19.20 \times 100}{64 \times 2} = 15 $$%

amount of Rs 86 will be in 4 years by 15% rate of interest

$$ SI = \frac{86 \times 15 \times 4}{100} = 51.6 Rs $$

amount = principal + SI

86 + 51.6 = 137.6 Rs

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