Question

A certain sum of money amounts to rs.1300 in 2 years and to rs. 1525 in 3.5 years. find the sum and the rate of interest.

Answer 1

The options for this question are missing. Following are the options:

A) Rs850, 10%

B) Rs900, 12%

C) Rs800, 13%

D) Rs1000,15%

E) None

The correct answer is option D) Rs1000,15%

1525-1300= 225 for 1.5 yrs (3.5-2)

so for one yr 225/1.5= 150

then for 2 yrs interest is 150+150=300

Then principal 1300-300=1000.

Now 150/1000*100= 15%