What rate percent on simple interest will Rs 750 amount to Rs 900 in 5 years?

If Rs.750 at a fixed rate of simple interest amounts to 1000 in 5 years, then how much will it become in 10 years at the same rate of simple interest?

1. Rs.2050
2. Rs.2000
3. Rs.1250
4. Rs.1520

Answer (Detailed Solution Below)

Option 3 : Rs.1250

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100 Questions 200 Marks 60 Mins

Given:

Principal = 750, Time = 5 year, Amount = 1000

Formula Used: 

Simple interest = (Principal × Time × Rate)/100

Calculation:

We know that,

Simple interest = Amount - Principal

⇒ 1000 - 750 

⇒ Simple interest = 250

According to question,

⇒ 250 = ( 750 × 5 × rate)/100

⇒ {(250 × 100)/(750× 5)}

Rate = (20/3)%

After that,

 It become in 10 years at the same rate of simple interest

Principal = 750, rate = (20/3)%, time = 10 yrs

Simple interest = {(750 × 10 × 20)/ (3 × 100)}

⇒ Simple interest = 500

Then total amount = 500 + 750 = 1250

∴  10 year later total amount is 1250

Simple interest = amount - principal 

⇒ 1000 - 750 = 250

5 years of simple interest is 250 

We know that simple interest pays equal interest in every year

⇒ 5yrs           =         250

⇒ 1 year       =        50 

⇒ 10 years     =       500

Then total amount = 500 + 750 

∴ Total amount = 1250

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0 vote

Asked on      2021-07-06 18:17:56 by Guest | Votes 0 | Views: 351 | Tags: quantitative aptitude     | simple interest     | Add Bounty

At what rate percent on simple interest will Rs.750 amount to Rs.900 in 5 years?

A). 5%

B). 3 1/2%

C). 4%

D). 5 1/2 %

1 answers

0 vote

Answered by Guest on 2021-07-11 20:25:24 | Votes 0 | #

4%

150 = (750*5*R)/100

R = 4%

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