Question

8.
A sum of money amounts to 14,880 in 6 years and
to * 16,320 in 9 years. Find the sum of money and the
rate of interest.​

Answer 1

Answer:

principal amount+9years interest=16,320

principal amount+6 years interest =14,880

subtract ing , 3years interest=Rs(16320-14880)

=Rs1440

6 years interest =Rs 1440×2=Rs 2880

principal + 6 years interest =14,880

principal+2880=14,880

principal=14,880-2880=12,000

so, principal amount is Rs 12,000

rate of interest =interest×100/principal×time

=2880×100/12000×6

=4

rate of interest is 4%

sum of money is Rs 12,000