Question

A certain sum of money amounts to ` 6,500 in 3 years and ` 5,750 in 1½
years respectively. Find the principal and the rate percent?

Answer 1

extea money he got in 1.5 year = 3 year - 1.5 year
= 6500 - 5750 = 750 in 1.5 year
in 1 year = 750 / 1.5
= 500 in 1 year
principal = 5750 - 750
principal = 5000.

rate % = rate in 1 year / princical × 100
= 500 / 5000 ×100 = 10 %


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