Question

2)A certain sum of money at simple interest amounts to Rs. 1,012 in 2 years and to Rs. 1,067.2 in 4 years. The rate of interest per annum is:​

Answer 1

Answer:

4%

Explanation:

Given, T1 =212yr, T2 = 4 yr

According to the question,

(P+P×R×4100)-(P+P×R×2.5100)=1067.20−1012=55.2

=> 1.5PR100=55.2

=> PR=552×10015=3680

For 4yr,

SI=PRT100=3680×4100=RS.147.2

Sum (P)=1067.2 - 147.2=RS.920

We have, PR = 3680

R = 3680P=3680920 = 4%...

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