A sum invested at 5% simple interest
A sum invested at 5% simple interest per annum grows to ₹806 in 6 years. If the amount remains the same, how much will it grow at a 12% simple interest rate in 5 years?
5% वार्षिक साधारण ब्याज की दर पर निवेश की गई एक धनराशि 6 वर्षो में बढ़कर ₹806 हो जाती है। यदि धनराशि समान रहे, तो 12% साधारण ब्याज की दर से 5 वर्षों में यह कितनी हो जाएगी?
Detailed Solution & Logic
Correct Answer:
₹ 992
At 5% p.a. for 6 years
A = P $ \left(1 + \frac{rt}{100}\right) $
$ 806 = P \left(1 + \frac{5 \times 6}{100}\right) $
$ 806 = P (1.30) $
$ P = \frac{806}{1.30} = 620 $
$ \text{Now at } 12% \text{ p.a. for 5 years} $
$ A = 620 \left(1 + \frac{12 \times 5}{100}\right) $
$ A = 620 (1.60) $
A = 992
Amount = ₹992
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