If Rs. 84 becomes Rs. 121.80 in 3 years at simple interest, then what will be Rs.100 becomes in 5 years at the same rate of interest?
Answer & explanation
Correct answer: option 3
S.I. for 3 year= 121.80 - 84 = 37.8
S.I. ( 1 year) = \(\frac{37.8}{3}\) = 12.6
Rate of interest = \(\frac{12.6}{84}\) × 100% = 15%
S.I. of 5 years = 15% × 5 = 75%
Amount will be = 100 × 175% = 175