a sum of money lend at simple interest amounts to rupees 4745 in 3 yrs and to rupees 5475 in 5 yrs. find the sum and the rate per cent per annum.
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Answer:
Answer is R= 10%
Step-by-step explanation:
let sum is p and rate isr SI=4745-p in 3 years -(1)
SI=5475 -P in 5 years subtracting (2) to (1)
SI=730 in 2 years
hence 1 year SI = 365 Rs
hence 3 years Si=3 x 365= 1095 Rs
now put Si in equation (1)
1095=4745-p
p=4745-1095=3650 Rs
hence sum =3650 Rs
now
Si=p x rx t/100
1095=3650 xrx 3/100
r=10%
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