A certain sum of money amounts to ₹6,500 in 3 years and ₹5,750 in 1 1/2years respectively . Find the principal and the rate percent.
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Amount 3 years = 6500
Amount in 1.5 years = 5750
interest in 1.5 years = 6500 - 5750 = 750
interest in 3(=1.5×2) years = 750×2 = 1500
Principal = 6500 - 1500 = 5000
1500 = Ptr/100
⇒ 1500 = 5000×3×r/100
⇒ r = (1500×100)/(5000×3) = 10%
Amount in 1.5 years = 5750
interest in 1.5 years = 6500 - 5750 = 750
interest in 3(=1.5×2) years = 750×2 = 1500
Principal = 6500 - 1500 = 5000
1500 = Ptr/100
⇒ 1500 = 5000×3×r/100
⇒ r = (1500×100)/(5000×3) = 10%
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