Multiple choice

If Rs. 5,600 amounts to Rs. 6,678 in 3.5 years, what will Rs. 94,00 amount to in 5 1 4 years at the same rate percent per annum simple interest?

  1. Rs. 11,231.25

  2. Rs. 12,145.63

  3. Rs. 12,114.25

  4. Rs. 12,700

  5. Rs. 12,200
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

Simple interest I = P * R * T / 100. For the first case, 1078 = 5600 * R * 3.5 / 100, so R = 5.5%. For the second case, P = 9400, T = 5.25 years, R = 5.5%. Interest = 9400 * 5.5 * 5.25 / 100 = 2714.25. Amount = 9400 + 2714.25 = 12114.25.

AI explanation

Using the simple interest formula S.I. = (P times R times T)/100 with the first investment gives 6,678 minus 5,600 = (5,600 times R times 3.5)/100, which yields the rate as 1078 times 100 divided by 19600 equals 5.5 percent. Applying this rate to the second sum for 5.25 years gives simple interest of (9,400 times 5.5 times 5.25)/100 = 2,714.25. Adding this interest to the principal gives a total amount of 9,400 + 2,714.25 = Rs. 12,114.25.

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