5. A sum of money lent out at simple interest amounts to
6,200 in 1 year and to 6,800 in 3 years. Find the
sum and the rate of interest.
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Amount ( A ) = ₹ 6200
Time ( T ) = 1 year
In 3 years , the added amount = ₹ 6800 - ₹ 6200
===> ₹ 600
The interest in 2 years is ₹ 600
In 1 year = ₹ 600 / 2 = ₹ 300
Interest per annum = ₹ 300
P = A - I
[ P = Principal , A = Amount & I = Interest ]
P = ₹ 6200 - ₹ 300 = ₹ 5900
The sum is ₹ 5900
R = I × 100 / PT
R = 300 × 100 / 5900 × 1
R = 30,000 / 5900
R = 5.08 per annum
Rate of interest = 5.08 %
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