SOLUTION: At a certain rate of simple interest, 500 Euros will accumulate to 600 Euros after a certain period of time. Find the accumulated value of Euros at a rate of simple interest one f

Question 775679: At a certain rate of simple interest, 500 Euros will accumulate to 600 Euros after a certain period of time. Find the accumulated value of Euros at a rate of simple interest one fourth as great over twice as long a period of time.

Answer by psbhowmick(878) (Show Source): You can put this solution on YOUR website!
Let the rate of interest be R % per year and time period be T years.
Therefore, the first scenario can be represented by the equation

________ (i)

If the rate of interest is one fourth more than the existing rate then it becomes % and double the previous time period is years.

With this new set of rate of interest and time period, the accumulated value A would be:

[substituting value of from (i)]

Hence, the accumulated value would be 750 Euros
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