Question

7. Riya invested a certain sum of money in a simple interest bond whose value grew to 600 at
the end of 6 years, and to rupees
800 at the end of another 10 years. What was the rate of interest?

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Answer 1

Step-by-step explanation:

Let the principal = Rs x

Then, S.I. = Rs. 259x

Amount = x+259=2534x

Given, 2534x=306

⇒x=34306×25=Rs225

⇒S.I.=259×225= Rs. 81

Now, P= Rs. 225,T=5 yrs, S.I. = Rs. 81,R=?

∴P×TS.I.×100=225×581×100=536% p.a. =751% p.a.