Question

A sum of money amount to 6,200 in 2 years and 7200 in 3 years . the principal and rate of interest are
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Answer 1

Answer:

let principal be x

then r% is x%

by the sum 1 years' interest is 1000

for two year's it will be 2000

so

I = 2000

A=I+P

6200=2000+p

6200-2000=P

4200=p

4200*2*x%/100=2000

x%=1000/42

=500/21