Question

3. A sum of money in 3 years becomes 1344 and in 7 years it becomes Rs. 1536.
What is the principal sum where simplet rate of interest to be charged?​

Answer 1

Step-by-step explanation:

In case 1 simple rate of interest is 40.02% and In case 2 simple rate of interest is 107.52%

Answer 2

The principal sum is Rs 1200 and rate of interest is 4 %

Solution:

A sum of money in 3 years becomes 1344 and in 7 years it becomes Rs. 1536

Therefore,

For 3 years,  principal + interest = 1344

For 7 years,   principal + interest = 1536

Interest for 4 years is:   1536 - 1344 = 192

Therefore,

$\text{Interest for 1 year } = \frac{192}{4} = 48 \\\\\text{Interest for 3 year } = 48 \times 3 = 144$

Total at end of 3 years = 1344

principal + interest = 1344

principal + 144 = 1344

principal = 1344 - 144

principal = 1200

Therefore,

$Simple\ interest = \frac{ p \times n \times r}{100}\\\\144 = \frac{ 1200 \times 3 \times r}{100}\\\\144 = 36r\\\\r = 4 \%$

Thus principal sum is Rs 1200 and rate of interest is 4 %

Learn more:

What is the principal sum? I. The sum amounts to rs. 690 in 3 years at s.I. Ii. The sum amounts to rs. 750 in 5 years at s.I. Iii. The rate of interest is 5% p.A.

https://brainly.in/question/9635708

The difference between the simple interest on a certain sum at the rate of 10 per annum for 2 years and compound interest which is compounded every 6 months is rs 124.05 wha is the principal sum?

https://brainly.in/question/6687878