Question

a certain sim becomes ₹283.75 and ₹306.25 in 3 years and 5 years respectively .find the annual simple interst..??? full explain

Answer 1

Answer:

4.5% Per annum

Step-by-step explanation:

Let say Principle = P rs

Rate of interest = R % per annum

Simple interest for 3 Years = P * R * 3/100 = 3PR/100 Rs

Amount after 3 Years = P + 3PR/100  

P + 3PR/100  = 283.75

100 P + 3PR = 28375   - Eq 1

Simple interest for 5 Years = P * R * 5/100 = 5PR/100 Rs

Amount after 5 Years = P + 5PR/100  

P + 5PR/100  = 306.25

100 P + 5PR = 30625    - Eq 2

5 * Eq1 - 3*Eq2

500P +15PR - 300P -15PR = 5*28375 - 3*30625

200P = 141875 - 91875

200P = 50000

P = 250

Eq2 - Eq 1

2PR = 30625 - 28375

2*250*R = 2250

R = 2250/500

R = 4.5 %