a sum of money amounts to rs.1008 in 2 years and amounts to rs.1164 in 3 1/2 years @ simple interest. find principal and rate of interest
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Given amount for 2 years = 1008 and 3 1/2 = 1164
So for 1 1/2 = 1164 - 1008 = 156
For 2 years = 156 * 2 / 3 * 2 = 208
Principal = (1008 - 208 ) = 800
R.I = (100 * 208) / (800 * 2)%
= 13%.
So for 1 1/2 = 1164 - 1008 = 156
For 2 years = 156 * 2 / 3 * 2 = 208
Principal = (1008 - 208 ) = 800
R.I = (100 * 208) / (800 * 2)%
= 13%.
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Hope that answer help you dear friend
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