Question

A sum of money becomes Rs 1100 in 2 years and Rs1400 in 6 years of simple interest.find the rate present

​

Answer 1

Step-by-step explanation:

Let Principal=x Rs. Rate=r℅.

1100=x+x*2*r/100=x(1+2r/100)

1400=x(1+6r/100)

x(1+2r/100)/x(1+6r/100) =1100/1400.

14(1+2r/100)=11(1+6r/100).

14+28r/100 =11+66r/100.

(66r–28r)/100 =14–11.

38r/100 =3.

r=300/38 =7.89℅.