A sum of money lent at certain rate for 3 years. If it has been put at

1.	A sum of money lent at certain rate for 3 years. If it has been put at 5% per annum more than the previous rate, it will fetch Rs. 4500 more, then find the principal amount.1. Rs. 450002. Rs. 300003. Rs. 500004. Rs. 800005. Rs. 48000
Answer» Correct Answer - Option 2 : Rs. 30000 Given: Rate of interest = 5% Time period in years = 3 years Formula Used: We know that, SI = (P × R × T)/100 Where, P = Principal R = rate of interest T = Time period in years Calculations: Let the initial rate be R% and the increased rate is (R + 5)% According to question; \(\frac{{{\rm{P}} × 3 × \left( {{\rm{R\;}} + {\rm{\;}}5} \right)}}{{100}} - \frac{{{\rm{P}} × 3 × {\rm{R}}}}{{100}} = 4500\) ---(1) P × 3/100 × (R + 5 - R) = 4500 P × 3/100 × (5) = 4500 P = 4500/15 × 100 ⇒ P = Rs. 30000 ∴ The principal amount is Rs. 30000

A sum of money lent at certain rate for 3 years. If it has been put at 5% per annum more than the previous rate, it will fetch Rs. 4500 more, then find the principal amount.1. Rs. 450002. Rs. 300003. Rs. 500004. Rs. 800005. Rs. 48000

Answer» Correct Answer - Option 2 : Rs. 30000

Given:

Rate of interest = 5%

Time period in years = 3 years

Formula Used:

We know that, SI = (P × R × T)/100

Where, P = Principal

R = rate of interest

T = Time period in years

Calculations:

Let the initial rate be R% and the increased rate is (R + 5)%

According to question;

\(\frac{{{\rm{P}} × 3 × \left( {{\rm{R\;}} + {\rm{\;}}5} \right)}}{{100}} - \frac{{{\rm{P}} × 3 × {\rm{R}}}}{{100}} = 4500\) ---(1)

P × 3/100 × (R + 5 - R) = 4500

P × 3/100 × (5) = 4500

P = 4500/15 × 100

⇒ P = Rs. 30000

∴ The principal amount is Rs. 30000

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