Question

A certain sum of money amounts to rs 918 in 2 years and rs 969 in 3.5 years at simple interest. What is the rate of interest (in %)?

Answer 1

.037%per annum

969-918=51 int. gain for 1.5 yrs divide it by 3

you get 17 x 2 for 1 yr =34/918=.037