A certain sum of money amounts to Rs. 6,300 in two years and Rs. 7,875 in three years nine
months at simple interest find the rate of interest per annum :
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7th
Maths
Comparing Quantities
Simple Interest
A certain sum of money amou...
MATHS
A certain sum of money amounts to Rs.6300/− in 2 years and Rs.7875/− in 3 years 9 months at simple interest find the rate of interest per annum.
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ANSWER
Let, Principle be Rs.P and Rate of interest be R% p.a.
Amount (A)=P(1+
100
TR
)
Given that,
6300=P(1+
100
2R
)...............(i)
7875=P(1+
400
15R
)...............(ii)
∵T=3
12
9
=
4
15
years
(i)
(ii)
⟹
(1+
100
2R
)
(1+
400
15R
)
=
6300
7875
⟹
400+8R
400+15R
=
6300÷1575
7875÷1575
=
4
5
⟹4(400+15R)=5(400+8R)
⟹1600+60R=2000+40R
⟹60R−40R=2000−1600
⟹20R=400
∴R=20 %(Ans)
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