ICSE Class 7 Answered
A sum of money put at 11%per annum simple interest amounts to 10370 rupees in 2 years . What will it amount to in 3 years at the same rate ?
Asked by pandeyaparna485 | 08 Aug, 2020, 07:45: PM
Expert Answer
Let x be the principal.
Given: Amount = Rs. 10,370, Rate = 11% and Time = 2 years
Simple interest = Amount - Principal
Simple Interest = 10370-x
Simple interest =
Now we need to find what will it amount to in 3 years at the same rate
Now, Principal = Rs. 8500, Time = 3 years, Rate = 11%
Amount = Principal +Interest
Amount =8500 +2805
Amount =11305
Hence it amount to Rs.11305 in 3 years at the same rate
Answered by Renu Varma | 09 Aug, 2020, 04:50: PM
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