Q:

If rs 500 amounts to Rs 725 at 9% simple interest in sometime ,what will Rs 600amount to at 11% in same time?

Accepted Solution

A:
Answer:[tex]Rs\ 930[/tex] Step-by-step explanation:The simple interest formula is equal to [tex]A=P(1+rt)[/tex] where A is the Final Investment Value P is the Principal amount of money to be invested r is the rate of interest  t is Number of Time Periods step 1Find the number of time periods tin this problem we have [tex]t=?\ years\\ P=Rs\ 500\\ A=Rs\ 725\\r=0.09[/tex] substitute in the formula above  and solve for t[tex]725=500(1+0.09t)[/tex] [tex]t=[(725/500)-1]/0.09[/tex] [tex]t=5\ years[/tex] step 2what will Rs 600 amount to at 11% in same time?we have[tex]t=5\ years\\ P=Rs\ 600\\ A=?\\r=0.11[/tex] substitute in the formula[tex]A=600(1+0.11*5)[/tex] [tex]A=600(1.55)[/tex] [tex]A=Rs\ 930[/tex]