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A sum of 400 rupees amounts to 480 rupees in 4 years. What will it amount to, if the rate of interest is increased by 2percent p.a.?
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A sum of 400 rupees amounts to 480 rupees in 4 years. What will it amo...
Principal =400. Amount =480 Time =4 yearS.I =Amount - principal 480 - 400 = 80Rate = s.i × 100 P × t =80×100 400×4 =5%Rate increase by 2% = (5+2)% =7%S.i = p×r×t 100 =400×7×4 100 =112Amount=siple interest +principal =112+400 =512
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A sum of 400 rupees amounts to 480 rupees in 4 years. What will it amo...
Understanding the Initial Amount and Interest Rate
The initial sum of 400 rupees amounts to 480 rupees in 4 years. This indicates that the interest earned over this period is:
- Interest Earned = Amount - Principal
- Interest Earned = 480 - 400 = 80 rupees
Now, we can find the rate of interest per annum using the formula for simple interest:
- Simple Interest (SI) = Principal × Rate × Time
- Rearranging gives us:
- Rate = (SI / (Principal × Time))
Substituting the known values:
- Rate = (80 / (400 × 4)) = 0.05 or 5% per annum.
Calculating New Amount with Increased Interest Rate
If the rate of interest is increased by 2% per annum, the new rate becomes:
- New Rate = 5% + 2% = 7% per annum.
Now, we calculate the new amount after 4 years using the new interest rate:
- New Simple Interest = Principal × New Rate × Time
- New Simple Interest = 400 × 0.07 × 4 = 112 rupees.
Final Amount Calculation
Now, we can find the total amount after 4 years with the new interest rate:
- New Amount = Principal + New Simple Interest
- New Amount = 400 + 112 = 512 rupees.
Conclusion
If the rate of interest is increased by 2% per annum, the amount will be:
- 512 rupees after 4 years.
The initial sum of 400 rupees amounts to 480 rupees in 4 years. This indicates that the interest earned over this period is:
- Interest Earned = Amount - Principal
- Interest Earned = 480 - 400 = 80 rupees
Now, we can find the rate of interest per annum using the formula for simple interest:
- Simple Interest (SI) = Principal × Rate × Time
- Rearranging gives us:
- Rate = (SI / (Principal × Time))
Substituting the known values:
- Rate = (80 / (400 × 4)) = 0.05 or 5% per annum.
Calculating New Amount with Increased Interest Rate
If the rate of interest is increased by 2% per annum, the new rate becomes:
- New Rate = 5% + 2% = 7% per annum.
Now, we calculate the new amount after 4 years using the new interest rate:
- New Simple Interest = Principal × New Rate × Time
- New Simple Interest = 400 × 0.07 × 4 = 112 rupees.
Final Amount Calculation
Now, we can find the total amount after 4 years with the new interest rate:
- New Amount = Principal + New Simple Interest
- New Amount = 400 + 112 = 512 rupees.
Conclusion
If the rate of interest is increased by 2% per annum, the amount will be:
- 512 rupees after 4 years.
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A sum of 400 rupees amounts to 480 rupees in 4 years. What will it amount to, if the rate of interest is increased by 2percent p.a.?
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A sum of 400 rupees amounts to 480 rupees in 4 years. What will it amount to, if the rate of interest is increased by 2percent p.a.? for Class 7 2024 is part of Class 7 preparation. The Question and answers have been prepared according to the Class 7 exam syllabus. Information about A sum of 400 rupees amounts to 480 rupees in 4 years. What will it amount to, if the rate of interest is increased by 2percent p.a.? covers all topics & solutions for Class 7 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for A sum of 400 rupees amounts to 480 rupees in 4 years. What will it amount to, if the rate of interest is increased by 2percent p.a.?.
A sum of 400 rupees amounts to 480 rupees in 4 years. What will it amount to, if the rate of interest is increased by 2percent p.a.? for Class 7 2024 is part of Class 7 preparation. The Question and answers have been prepared according to the Class 7 exam syllabus. Information about A sum of 400 rupees amounts to 480 rupees in 4 years. What will it amount to, if the rate of interest is increased by 2percent p.a.? covers all topics & solutions for Class 7 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for A sum of 400 rupees amounts to 480 rupees in 4 years. What will it amount to, if the rate of interest is increased by 2percent p.a.?.
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