A sum of money amounts to rs 780 in two years and rs 1230 in seven years . Find the principal, and rate of simple interest .. ( plz with proper explaination )
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Answer: P = 600, R = 15
Step-by-step explanation:
Sum in 2 year = 780
Sum in 7 year = 1230
Interest in 5 year = 1230 - 780
= 450
Interest of 1 year = 90
Interest of 2 year = 180
Principal = Todays Amount
- Amount before 2 year
= 780 - 180
= 600
I = P*R*T/100
180 = 600* R*2/100
180 = 600*R*1/50
180= 12*R
180/12 = R
15 = R
R=15
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