Question

A sum of money at simple interest amounts to Rs. 14160 in 3 year. If the rate of interest is increased by 25%, the same sum amount to Rs. 14700 in the same time. The rate of interest is?
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Answer 1

Answer:

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Answer 2

ANSWER:

P+Pr×3100=14160

P+P×5r400×3=14700

\left[ Rate\ of\ Int. = r + \frac{25}{100} r \right]

(By Ii) and (ii)

=> P+54(14160−P) = 14700

=> 4P + 70800 - 5P = 58800

FOR

=> P = 70800 - 58800 - 12000

Therefore, From equation (i),

12000+12000×r×3100 = 14160

=> 120×3×r=14160−12000=2160

=> r=2160120×3 = 6%