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Easy

Question

# If Rs. 4000 amounts to Rs. 4500 in 2 years, find how much would it amount in 5 years at the same rate of interest?

Hint:

### First find the rate of interest then find the total amount in 5 years.

## The correct answer is: Rs 5250

### Complete step by step solution:

Given that principal amount = Rs 4000

Total amount after 2 years = Rs 4500

We know the formula for total amount = A = P + SI…(i)

where A is the total amount, P is the principal amount and SI is simple interest.

Here we have P = 4000 and A = 4500

On substituting in (i) we get SI = 4500 - 4000 = 500

We calculate simple interest by the formula,

where P is Principal amount, T is number of years and R is rate of interest

Here, we have SI = 500,P = 4000 and T = 2 (given)

So, we get

On simplifications, we get 500 = 80R

On dividing both the sides by 80, we get R =

To find the total amount in 5 years.

We have

On substituting the known values in (i), we get total amount in 5 years = A = P + SI = 4000 + 1250 = Rs 5250

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