Rs. 6000 becomes Rs. 7200 in 4 years. If the rate becomes 1.5 times of itself, the amount of the same principal in 5 years will be = ?
A. Rs. 8000
B. Rs. 8250
C. Rs. 9250
D. Rs. 9000
Answer: Option B
Solution(By Examveda Team)
$$\eqalign{ & {\text{Principal}}\,\,\,\,\,\,\,{\text{Amount}} \cr & \underbrace {\,\,\,\,\,{\text{6000}}\,\,\,\,\,\,\,\,\,\,\,\,\,\,{\text{7200}}\,\,\,\,\,}_{ + 1200} \cr & {\text{By using formula,}} \cr & {\text{Rate }}\% \cr & = \frac{{1200}}{{6000}} \times \frac{{100}}{4} \cr & {\text{ = 5}}\% \cr & {\text{New rate}}\% \cr & = {\text{5}} \times \frac{3}{2} = {\text{7}}{\text{.5}}\% \cr & {\text{Interest after 5 years}} \cr & = \frac{{6000 \times 7.5 \times 5}}{{100}} \cr & {\text{ = Rs}}{\text{. 2250}} \cr & {\text{Hence,}} \cr & {\text{amount }} \cr & {\text{ = Rs}}{\text{. }}\left( {6000 + 2250} \right) \cr & {\text{ = Rs 8250}} \cr} $$Related Questions on Interest
Find the simple interest on Rs. 5200 for 2 years at 6% per annum.
A. Rs. 450
B. Rs. 524
C. Rs. 600
D. Rs. 624
Rs. 1200 is lent out at 5% per annum simple interest for 3 years. Find the amount after 3 years.
A. Rs. 1380
B. Rs. 1290
C. Rs. 1470
D. Rs.1200
E. Rs. 1240
Interest obtained on a sum of Rs. 5000 for 3 years is Rs. 1500. Find the rate percent.
A. 8%
B. 9%
C. 10%
D. 11%
E. 12%
Rs. 2100 is lent at compound interest of 5% per annum for 2 years. Find the amount after two years.
A. Rs. 2300
B. Rs. 2315.25
C. Rs. 2310
D. Rs. 2320
E. None of these
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