A Certain sum of money at simple interest amount to rupees 1300 in 4 years and 2 rupees 1525 in 7 years find the sum and the rate percent
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Answer:
According to question, we have
P+
100
P×r×8
=1620 ..(i)
P+
100
P×r×5
=1350 .(ii)
Taking difference of both gives
(P+
100
8Pr
)−(P+
100
5Pr
)=1620−1350
⇒
100
3Pr
=270
⇒
100
Pr
=90
Substituting this value in equation (i), we get
P+90×8=1620
⇒P=900
Therefore, the sum is Rs. 900.
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