AFCAT Model Paper 7

Given:
Principal = Rs. 5000, Amount = Rs. 6920 in 4 years
New rate = 1.5 times
Formula Used:
S.I=

PRT

100

Amount = Principla + Simple Interest
Calculatiuon:
According to the question
S.I. = Rs. (6920 - 5000) = Rs. 1920,
T = 4 years
R=

S.I.×100

P×T

By putting values, R =

48

5

% p.a.
⇒ New rate =(1.5×

48

5

)=

72

5

% p.a.
Now, P = Rs. 5000, R =

72

5

%, T = 5 years
⇒ S.I. =

P×R×T

100

⇒ By putting values, S.I. = Rs. 3600
∴ Amount = Rs. (5000 + 3600) = Rs.8600.