A certain sum of money amounts to 756 rupees in 2 years and to 873 rupees in 3 and a half year at a certain rate of simple interest. What is the rate of interest per annum ?Please don't give incorrect answer I beg you please.
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Answer:
Let the initial cost price of the article be 100 rupees.
Profit = 20%
S.P. of the 1st dealer
Let the second profit % = x. Then,
S.P. of the 2nd dealer
Final S.P. of the article after passing through two hands at a profit = 38%
Given,
So, if the dealer makes a profit of 20%, then the profit per cent made by the second is 15%.
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