a certain sum of money to Rs 2200 in 5 years the interest being three -eight of the principal find the principal and the rate of interest charged
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let the principal be 80x and then the interest is 3/8(80x) =30x . So 80x+30x =2200=> x=2200/110 =20. Hence principal is ₹1600 and interest earned =
₹600. Interest = principal*rate*time /100=> 600 =1600*rate*5/100 =80*rate => rate=600/80 =15/2 =7.5%.
₹600. Interest = principal*rate*time /100=> 600 =1600*rate*5/100 =80*rate => rate=600/80 =15/2 =7.5%.
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