Question

6. Two friends invested 37,000 and 15,000 at the same rate of interest p.a. If at the end of 5 years one friend received 600 more than the other, find the rate of interest.​

Answer 1

Answer:

Rate of interest = 5.45%

Step-by-step explanation:

Note :

SI = PTR

100

It is given that SI 1 - SI 2 = 600

( one friend received 600 more than the other)

=> 3700*5*R - 1500*5*R = 600

100 100

=> 185R - 75R = 600

=> 110R = 600

=> R = 600 / 110 = 5.45%