If a certain principal amounts to $R s .49, 680$ at $5.2 %$ per annum over $2$ years how much will it amount to in $3$ years at the same rate of simple interest?

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Solution

We have the formula for Amount in simple interest,

$A = P (1 + r t)$

Given, $A = 49680$ , $t = 2$ $r = 5.2$

$∴ 49680 = P (1 + 2 (0.052))$

$49680 = P (1 + 0.104) = P (1.104)$

$P = \frac{49680}{1.104} = 45000$

Principal amount is Rs. $45000$

Amount in $3$ years is,

$A = P (1 + r t) = 45000 (1 + 0.052 (3)) = R s . 52020$

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If a certain principal amounts to Rs.49,680 at 5.2% per annum over 2 years how much will it amount to in 3 years at the same rate of simple interest?

We have the formula for Amount in simple interest,A=P(1+rt)Given, A=49680, t=2 r=5.2∴49680=P(1+2(0.052))49680=P(1+0.104)=P(1.104)P=496801.104=45000Principal amount is Rs. 45000Amount in 3 years is,A=P(1+rt)=45000(1+0.052(3))=Rs. 52020

If a certain principal amounts to $R s .49, 680$ at $5.2 %$ per annum over $2$ years how much will it amount to in $3$ years at the same rate of simple interest?