A certain sum of money at simple interest to rs 1120 in 3 years and to rs 1200 in 5 year. find the principal and the annual rate of interest.
Answers
Answered by
2
Step-by-step explanation:
S.I. for 5years = Rs. (1120-1200)
=80
S.I. for 3 years = Rs. (80 x 3 x 3) = Rs. 720
Principal = Rs. (1200 - 720) = Rs. 480
Now, P = 480 T = 2, and S.I. = 720
Rate = (100x720/480x2)% = 75%
Similar questions