Question

At a certain rate of interest, the interest after $4$ years on $5000$ rupees principal is $1200$ rupees. What would be interest on $1500$ rupees at the same rate of interest?

Answer 1

We know that $SI=\frac{PRT}{100}$

Given $principal=Rs.5000,time=4yearsandS.I.=Rs.1200$

i.e.,$\frac{5000\times 4\times R}{100}=1200$

Then, rate of interest i.e.,$R=6$%

Now,

$R=6$%,$P=Rs.1200andtime=4years$

Then S.I.$=\frac{PRT}{100}=\frac{1200\times 6\times 4}{100}=Rs.288$