Question

A certain sum amounts to Rs 7535 in 3 years and Rs 8905 in 5 years. Find rate of Simple Interest and sum
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Answer 1

Answer:

5400

Step-by-step explanation:

Interest for 1 year is the same whether it's simple interest or the compound interest.

Now interest of third year = 8575 - 7350 = 1225; means principal for this interest is 7350 if comound interest is takenIf 7350 is the principal interest = 1225

if 100 is the principal interest =(1225/7350) * 100 = 50/3 %

When a thing increases for two successive times the overall increase on initial amount = a + b + (a * b)/100

Therefore overall interest for two years = 50/3 + 50/3 + [(50/3)*(50/3)]/100 = 325/9 %

Therefore amount after 2 years = 100 + 325/9 = 1225/9

If 1225/9 is the amount principal =100

if 7350 is the amount principal =(900/1225)*7350 =5400

So sum = 5400; Rate = 50/3 %

Answer 2

Answer:

Step-by-step explanation:

Let the certain sum be x

Given that in t=3 years

A=7535

I.e x+(x×r×3)/100=7535

(100x+3xr)/100=7535

100x+3xr=7535×100....(i)

Now as per the question

After t=5

A=8905

I.e x+(x×r×5)/100=8905

(100x+5xr)/100=8905

100x+5xr=8905×100.....(ii)

(ii)-(i) gives us

100x-100x+5xr-3xr=100(8905-7535)

2xr=1370×100

Xr=685×100

Putting the value of xr in eq (i) we get

100x+3×(68500)=753500

100x=548200

So x=5482

I.e the sum was 5482 rupees

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