Question

A certain sum of money at simple interest becomes rs. 1062 in 2 years and rs. 1183.50 in 3½ years. what is rate of interest per annum?

Answer 1

SI for multi year = 2600-2240 = 360 SI for multi year 360/3 * 2 = 240 essential = 2240 - 240 = 2000. Straightforward intrigue is a fast and simple technique for figuring the intrigue charge on a credit.

Basic intrigue is controlled by duplicating the day by day loan cost by the essential by the quantity of days that slip by between installments.