Question

A sum of money becomes 3000in 2year and 3250 in 3year find the principal and the rate of interest​

Answer 1

Answer:

Principal=2500

rate of interest=10%

Explanation:

Let the Principal. =P

Rate of interest. =R

then as per question

P+PR×2/100 = 3000 ........(1)

and

P+PR×3/100 =3250...........(2)

now to solve the equation we multiply equation (1) by 3 and equation (2)by 2

3P+6PR/100=9000. .........(4)eq

2P+6PR/100=6500............(5)

now (4)-(5)--

P=2500

putting value of P in equation 1

2500+ 2500×R×2/100. =3000

R=10%