Multiple choice

If Rs.3,750 amount to Rs.4,620 in 3 years at simple interest. Find the amount of Rs.7,500 in $\displaystyle 5\frac{1}{2}$ years at the same rate of interest.

  1. Rs.$8,769$
  2. Rs.$10,690$
  3. Rs.$12,333$
  4. Rs.$15,559$
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

SI = 4620 - 3750 = 870. Rate = (870 * 100) / (3750 * 3) = 7.73%. For 7500, 5.5 years, SI = (7500 * 7.73 * 5.5) / 100 = 3190. Amount = 7500 + 3190 = 10690.

AI explanation

Using the simple interest formula, the interest earned is 4620 minus 3750, which equals Rs. 870. The rate of interest is calculated as (870 times 100) divided by (3750 times 3), resulting in 7.76 percent. For the second principal of Rs. 7500 over 5.5 years, the simple interest equals (7500 times 7.76 times 5.5) divided by 100, which is Rs. 3190. Adding this interest to the principal gives the final amount of Rs. 10690. The correct amount is Rs. 10690.

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