An amount of ₹8500 becomes ₹9500 in 3 years time at some simple rate of interest. How much the amount…
The interest earned is \(9500-8500 = 1000\) on ₹8500 in 3 years. Since ₹10200 is \(1.2\) times ₹8500, three years would earn \(1200\), so five years earn \(\frac{5}{3}\times…
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An amount of ₹8500 becomes ₹9500 in 3 years time at some simple rate of interest. How much the amount of ₹10,200 will become in 5 years at the same rate of simple interest?
Answer and explanation
Correct answer C
The interest earned is on ₹8500 in 3 years. Since ₹10200 is times ₹8500, three years would earn , so five years earn . The amount becomes .
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