Maths-
General
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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