5. A sum of money lent at simple interest amounts to 3224 in 2 years a

1.	5. A sum of money lent at simple interest amounts to 3224 in 2 years and 4160 in5 years. Find the sum and the rate of interest.
Answer» x = sum of money to be lenty = % rate per annuma/qwhen time= 2 years, Amount = 3224so, 3224 = x + xy2/100. --------- (I) and when time= 5 years, Amount = 4160so, 4160 = x + xy5/100. --------- (II) solving equation I and ii we get.. x =2600and y = 12%

5. A sum of money lent at simple interest amounts to 3224 in 2 years and 4160 in5 years. Find the sum and the rate of interest.

Answer»

x = sum of money to be lenty = % rate per annuma/qwhen time= 2 years, Amount = 3224so, 3224 = x + x*y*2/100. --------- (I)

and when time= 5 years, Amount = 4160so, 4160 = x + x*y*5/100. --------- (II)

solving equation I and ii we get..

x =2600and y = 12%