Question

A man invest RS 2000 for 3 years. He also invests RS 1600 for the same period, but at a rate 2% higher than the first. Then transactions enable him to earn an invest of RS 996 at the end of the three years. Find the two rate of interest

Answer 1

Step-by-step explanation:

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Answer 2

Answer:

Step-by-step explanation:

Interest on rs.1600 for 3 years at 2%

= Rs.96

Total interest= 996-96

=990

This is the interest of Rs.2,000+ 1600 of R% for 3 years

Hence,

900=3600*R*3/100

R= 900*100/3600*3

= 25/3

=8.33

So, rate for rs.2,000 is 8.33%

And rs.1600 is 10.33%