Question

A sum of money amounts to rupees 2000 in 3 years and rupees 2500 in 5 years at simple interest. Find the rate of interest per annum.

please give me explanation

Answer 1

Given that sum of money amounts to 2000 in 3 years   ----- (1)

Given that sum of money amount to 2500 in 5 years  ---- (2)

(2) - (1)

= > 5 - 3 = 2500 - 2000

= > 2 years = 500

So, SI for 2 years = 500.

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So, SI for 3 years = (500/2) * 3

= > 250 * 3

= > 750 .

Now,

Principal = 2000 - 750

= > 1250.

hence,

Rate per annum = (100 * 750)/(1250 * 3)

= > 75000/3750

= > 20.

Therefore, the rate of interest per annum = 20.

Hope this helps!

Answer 2

Here is your answer
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