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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Amount in 2 years = Rs. 756
Amount is 3½ years = Rs. 873
∴ Interest for 1½ years = Rs. 873− Rs. 756= Rs. 117
Interest for 2 years = 117÷3/2 ×2= 117×2×2/3 = Rs. 156
Interest for 1 year = 117×2÷3 = Rs. 78
∴ Principal =Amount−Interest ....(for 2 years) = Rs. 756− Rs. 156= Rs. 600
∴ Rate of interest = 78×100÷600× =13% p.a.
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