Question

A certain sum of money at simple interest amounts to Rs. 1260 in 2 years and to Rs. 1350 in 5 years. Find the rate percent per annum.
Option A)2(1/2)% per annum
B)6(1/4)% per annum
C)1(1/2)% per annum
D)4(2/3)% per annum

Answer 1

Step-by-step explanation:

Difference=5-2=3yr

1350-1260=90

Interest in 3yr=90

1yr=30

2yr=60

So

Principal=1260-60=1200

Rate=30/1200×100=30/12=5/2=2(1/2)%

Answer 2

Answer:

Step-by-step explanation:

Simple in 3 year = Rs( 1350 - 1260) = Rs 90

Simple in 2 year = (2/3) &time; 90= Rs 60

where , SI= Simple Interest

P= Principal

T= Time

Principal = Rs (1260 -60)= Rs 1200

Rate, R= (100 x SI)/(P x T)= (100 x 60)/(1200 x 2)=60/24= 2.5 %