Question

a certain sum of money at simple interest amounts to rs13000 in 4 years and to rs 15250 in 7 years. find the sum and the rate per cent

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Answer 1

Answer:

The Sum is Rs.1000 and rate per cent is 7.5 %

Step-by-step explanation:

Let, the principal amount i.e., Sum be, P

And let, The rate per cent be, R

And the formula for simple interest is, I = PTR/100

According to the 1st case, T=4yr

P + (4PR/100) = 13000...................................(1)

According to 2nd case, T = 7yr

P + (7PR/100) = 15250......................................(2)

Solving eq (1) and (2),

We get P = 1000 and R = 7.5