Question

16. A sum of money lent at simple interest amounts to 4500 in 2 years and 6000 in 5 years. Find the sum of money and the rate of interest.

please give correct step by step explanation


please do not give direct answer​

Answer 1

Answer:

Prinncipal = 3500 rate of interest = 100/7%

Step-by-step explanation:

P + 5I = 6000

P + 2I = 4500

By subtracting

3I = 1500

=>I = 500

P +2I = 4500

=> P + 1000 = 4500

=> P = 3500

rate of interest = (500/3500)×100 = 100/7% [Ans]