A certain sum of money becomes rs 2250 at the end of 2yr and become rs 2650at the end of 5yr. If the person receives only SI,then the rate of interest is what?
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let principal =P
2250 - P = P*R*2/100....(1)
2650 -P = P *R*5/100 .....(2)
Divide 2 by 1
2650 - P /2250 - P = 5/2
5300-2P = 11250 -5P
3P = 5950
P = 1983.33
put value of P in Equation 1
2250 - 1983.33 = 1983.33*R*2/100
After solving
R = 6.72%
2250 - P = P*R*2/100....(1)
2650 -P = P *R*5/100 .....(2)
Divide 2 by 1
2650 - P /2250 - P = 5/2
5300-2P = 11250 -5P
3P = 5950
P = 1983.33
put value of P in Equation 1
2250 - 1983.33 = 1983.33*R*2/100
After solving
R = 6.72%
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