Question

A sum of money at simple interest amount to 1860 in 2 years and to 1930 in 3 years . what is the sum.
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Answer 1

$\huge \tt{ \underline{ \underline{ \pink {Solution :}}}}$

2.5%

$\tt{↪{ \pink{Explanation : }}}$

→ Let the principal be Rs . P and the rate of interest be R %

$\tt{↪ {\pink{Given : }}}$

→ Sum of money lent out at simple interest amount to rupees 2520 in 2 years and to rupees 2700 in 5 years .

→ Then ,

→ Simple interest for 3 years

→ 2700 - 2520

→ ₹180

→ Simple interest for 1 year

→ 180/3

→ 60

→ Simple interest for first 2 years

→ ₹60 x 2

→ ₹120

→ Amount ( After 2 years ) = Principal + Simple Interest

→ 2520 = P + 120

→ P = 2520 - 120

→ P = 2400

→ So ,

→ The Principal is ₹2400

→ Now ,

→ Rate of Interest - Simple Interest = ( PxRxT ) / 100

→ 120 = ( 2400xRx2 ) / 100

→ 120 = 48R

→ R = 120/48

→ R = 2.5 %

→ So ,

→ Rate of Interest is 2.5 %

Answer 2

Answer:

Hope it helps, so here you go:-

Explanation:

S.I. for 1 year = ₹ (1930 - 1860) = ₹ 70.

( Since the amount is given at the  2 years and 3 years )  

S.I. for 2 years = ₹ (70  × 2) = ₹ 140  

(Since simple interest is same for every year )  

Principal = Amount - Interest

              = ₹ 1860 - ₹ 140  

              = ₹ 1720