Question

A certain sum amount to 5150 in 3 yrs and 5350 in 7 years at simple interest .Find rate of interest

Answer 1

Answer:

0.07%

Step-by-step explanation:

amount in three years =5150

amount in seven years=5350

simple interest in 4 years =200

in a year=50

principal=5150-150=5000

interest=s.i.*100/p*t

350*100/5000*10

=3500/50000

=0.07%

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Answer 2

Answer: 1%

Step-by-step explanation:

amount in three years =5150

amount in seven years=5350

simple interest in 4 years = 5350-5150 =200

in a year 200/4

=50

principal=5150-150=5000

SI /=PRT /100

50 = 5000 x R x 1 /100

R = 1