Thank you for reporting, we will resolve it shortly
Q.
If $₹ 4000$ becomes $₹ 4600$ in a year's time at simple interest, what will $₹ 6000$ become at the end of 2 years at the same rate of interest?
Simple Interest and Compound Interest
Solution:
Principal $=₹ 4000$
Therefore, $4600=4000+$ Interest
Interest $=₹ 600$
$I=\frac{P N R}{100} \Rightarrow 600=\frac{4000 \times R \times 1}{100} \Rightarrow R=15 \%$.
$\therefore$ The simple interest on $₹ 6000$ at the rate of $15 \%$ for a period of 2 years is $(6000 \times 15$ $\times 2) / 100=₹ 18000$. Therefore, $₹ 6000$ at the end of 2 years, amounts to $₹ 6000+1800$ $=₹ 7800$.