Question

A certain sum of money at simple interest amounts to Rs. 1260 in 2 years and to Rs. 1350

in 5 years. The rate percent per annum is?
​

Answer 1

Given:

• A certain amount of money of simple interest amounts to Rs.1260 in 2 yrs & to Rs.1350 in 5 yrs.

To Find:

• Rate percent per annum = ?

Solution:

let's find all the values,

★ 3 years simple interest =

➺ 1350 - 1260

➺ 90

★ Yearly Invest =

➻ 90/3

➻ 30

★ Amount invested =

➵ 1260 - (30 × 2)

➵ 1260 - 60

➵ 1200

Hence,

★ Interest rate =

➛ 30 / 1200 × 100

➛ 30/120000

➛ 2.5%

Hence,

• Rate percent per annum is 2.5%.