Question

A sum of money invested at simple interest amounts to rs 8800 in 2 years and to 9200 in 3 years. Find the sum and rate of interest per anum

Answer 1

Step-by-step explanation:

Iyr interest=92oo-8800 = 400

2yrs.interest=800

Principal = 8800-800=8000. Ans

Rate = 400/8000X100 = 4 oooo/8000=40/8=5% Ans

Answer 2

Answer:

Principal = 8000 RS

Rate = 5 %

Step-by-step explanation:

By SI formula, PNR/100

Since it's SI and 2 consequtive year's final Interest amounts are given, the Interest for the first year = 9200 - 8800

Interest amount for first year= 400

By SI, Interest amount for second year = 400 + 400

= 800

Interest amount for third year = 1200

Rate of Interest = PNR/100

Calculating for 1st year ≈ 8000 * 1 * R / 100 = 400

R = 5