Question

A sum of money amount to 6,200 in 2 years and 7,400 in 3 years. The principal and rate of interest are....?
The answer is P=₹3800 and I=31.57%
Please give explanation

Answer 1

Answer:

31.57%

Step-by-step explanation:

7400-6200=1200

12002(Years)=2400

P=6200-2400

P=3800

Now Rate:

I=S-P

I=7400-3800

I=3600

I=Prt

3600=38003t

t=0.31%

t=31.5789

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