Question

a sum of money amounts to ₹6200 in 2 years and ₹7400 in 3 years the principal and the rate of interest are
a) ₹3800,31.58%
b) ₹3000,20%​

Answer 1

Answer:

Solution

Amount1= 6200, R1 =2 , Amount2 = 7400, R2= 3

interest = amount 2 - amount 1

= 7400 - 6200

= 1200..

principal + 2 interest ( interest of two years)= Amount

principal + 2(1200) = 6200

principal = 6200-2400

= 3800

Now Rate:

I=Sum-Principal

I=7400-3800

I=3600

I=Prt (Principal*Rate*Time)

3600=3800*3*t

t=0.31%

t=31.58%