Question

A certain sum of money amounts to Rs.4950 in 2 years and Rs.5625 in 5 years at a same rate of interest by S.I. Find the rate of interest per annum.

Answer 1

Answer:

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Step-by-step explanation:

Amount in 2 years = Rs. 756

Amount is 321 years = Rs. 873

∴ Interest for 121 years = Rs. 873− Rs. 756= Rs. 117

Interest for 2 years =23117×2=3117×2×2= Rs. 156

Interest for 1 year =3117×2= Rs. 78

∴ Principal =Amount−Interest ....(for 2 years) = Rs. 756− Rs. 156= Rs. 600

∴ Rate of interest =600×178×100=13% p.a