1. If Rs. 5,000 becomes Rs. 5,700 in a year’s time, what will Rs. 7,000 become at the end of 5 years at the same rate of simple interest ?
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By: anil on 05 May 2019 01.59 am
let the rate of interest be R here Rs 5000 becomes Rs 5700 in 1 year and hence interest for 1 year = Rs 700 SI = $$frac{P imes R imes T}{100}$$ 700 = $$frac{5000 imes R imes 1}{100}$$ R = 14% now new principal amount = Rs 7000 T = 5 years R = 14% hence SI in 5 years at Rs 7000 = $$frac{7000 imes 14 imes 5}{100}$$ = Rs 4900 and hence total amount = 7000 + 4900 = Rs 11900
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