Question

A certain sum of money amounts to Rs 756 in two years and Rs 873 in 3.5 years. Find the the rate and sum of interest.

Answer 1

Sol:

It is given that Principle + Simple Interest for 3.5 years = 873 Rs-----(1)

Principle + Simple Interest for 2 years = 756 Rs -------(2)

Subtracting (1) – (2) we get

Simple Interest for 1.5 years = 117 Rs.

Therefore, S.I = P x R xT .

Simple Interest for 2 years = Rs. 117/1.5 x2 =156 Rs.

Therefore P = 756 - 156 = 600 Rs

And rate of interest =100 x 156/600 x2 = 13% per annum.

Hope This Helps :)