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2 months ago

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

1 answer:

AnnZ [12.3K]2 months ago

6 0

Answer:

$Rs\ 930$

Step-by-step explanation:

The formula for calculating simple interest is

$A=P(1+rt)$

Here,

A refers to the Total Amount of Investment

P denotes the Initial Investment

r indicates the interest rate

t represents the duration in time periods

step 1

Determine the duration t

For this scenario, we have

$t=?\ years\\ P=Rs\ 500\\ A=Rs\ 725\\r=0.09$

Plugging into the formula above and solving for t

$725=500(1+0.09t)$

$t=[(725/500)-1]/0.09$

$t=5\ years$

step 2

What will Rs 600 grow to at 11% over the same duration?

We have

$t=5\ years\\ P=Rs\ 600\\ A=?\\r=0.11$

Insert into the formula

$A=600(1+0.11*5)$

$A=600(1.55)$

$A=Rs\ 930$

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