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A certain sum of money amounts to Rs.756 in 2years and to Rs. 873 in 3.5 years. Find the sumand the rate of interest. |
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Answer» It is given that Principle + Simple Interest for 3.5 years = 873 Rs-----(1)Principle + Simple Interest for 2 years = 756 Rs -------(2)Subtracting (1) – (2) we getSimple Interest for 1.5 years = 117 Rs.Therefore, S.I = P x R xT.Simple Interest for 2 years = Rs. 117/1.5 x2 =156 Rs.Therefore P = 756 - 156 = 600 RsAnd rate of interest =100 x 156/600 x2 = 13% per annum thank you so much |
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