The simple interest on a sum of money will be Rs. 800 after 10 years. If the principal is tripled after 5 years, what will be total interest at the end of tenth year?a)Rs. 1500b)Rs. 1600c)Rs. 2200d)Rs. 2000Correct answer is option 'B'. Can you explain this answer?

Question

Answer

Calculating Simple Interest:

Given that the simple interest on a sum of money will be Rs. 800 after 10 years, we can calculate the rate of interest using the formula:

Simple Interest (S.I) = (Principal x Rate x Time) / 100

Substitute the values into the formula:
800 = (Principal x Rate x 10) / 100
8000 = Principal x Rate

Tripling the Principal:

After 5 years, the principal is tripled. Therefore, the new principal will be 3 times the original principal.

New Principal = 3 x Principal

Substitute the value of Principal from the previous calculation:
New Principal = 3 x 8000 = Rs. 24000

Calculating Total Interest:

Now, we need to calculate the total interest at the end of the tenth year with the new principal.

Total Interest = New Principal - Principal + Simple Interest on New Principal for 5 years

Total Interest = 24000 - 8000 + (24000 x Rate x 5) / 100

Total Interest = 16000 + 12000 x Rate

Given that the total interest is the sum of Rs. 800 after 10 years, we can calculate the rate of interest using the formula above.

Therefore, the total interest at the end of the tenth year will be Rs. 1600, which corresponds to option B.

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