A sum of money, lent out at C.I. amounts to ₹ 4500 in 6 years. If rate of C.I. is 12%, the same money will amount in 7 years to rupees :

1. 540

2. 5040

3. 5400

4. 4725

Let money amounts to ₹ x.

Difference between amounts of two successive years = ₹ x - ₹ 4500

∴ ₹ (x - 4500) is the interest of one year on ₹ 4500.

By formula,

Rate of interest = $\dfrac{100 \times I}{P \times T}$

Substituting values we get :

$\Rightarrow 12 = \dfrac{100 \times (x - 4500)}{4500 \times 1} \\[1em] \Rightarrow 12 \times 45 = x - 4500 \\[1em] \Rightarrow 540 = x - 4500 \\[1em] \Rightarrow x = 540 + 4500 \\[1em] \Rightarrow x = 5040.$

Hence, Option 2 is the correct option.