Question

A certain sum of money at simple interest amounts to 13000 in 4 years and 15 250 in 7 year find the sum and rate of interest.​

Answer 1

1. sum =10000
2. rate of interest = 7.5

Step-by-step explanation:

1. 4pr+100p =1300000
2. 7pr+100p=1525000

subtracting 1 from 2

3pr = 225000

pr=75000

substitute pr in 1

300000+100p=1300000

100p=1000000

p=10000

r=7.5