Question

A sum of money at simple interest amounts to rs 2800 in 2 years and rs 3250 in 5 years.Find sum and rate of interest

Answer 1

Step-by-step explanation:

si for 3 year = 3250-2800

=450

si for a year=450/3

=150

si for 2 year=300

P=amount of 2 year -300

P=2500

R=si×100/P×t

R=150×100/2500×1

R=6%

Answer 2

Answer:

R=6% and sum=2500

Step-by-step explanation:

As we have given in the question that sum would be 2800 after 2 years and it would be 3250 after 5 years

So the interest of 3 years will be=3250-2800=450

Therefore interest of 1 year will be=150

So to know how much the principal is we need to subtract 300 from 2800 as 2 years interest is 300

Therefore the principal is=2500

Now we can calculate the rate of interest by the formula $R=\dfrac{SI\times100}{PT}$

$R=\dfrac{300\times100}{2500\times2}$

So our final answer would be

R=6%