Question

A man invests ₹2000 for 3 years. He also invests ₹1600 for 3 years at a rate 2% higher than the first one. He earns an interest of ₹996 at the end of 3 years. Find the rates of interest in both the cases​

Answer 1

Answer:

Principal = 2000 , 1600

Time = 3year ,3 year

rate = x % , (x+2)%

= simple interest= principal*rate*time/100

= 996 = 2000*3*x/100 + 1600*3*(x+2)/100

= 996 = 6000x/100 + 4800x +9600/100

= 996= 6000x+4800x +9600/100

= 99600 = 10800x +9600

= 10800x = 99600-9600

= x = 90000/10800

the answer is x= 8.33 and 10.33 % rate of interest