Question

A sum of money lent at simple interest
amounts to 717,145 in 3 years and to
719,575 in 5 years. Find the sum and the
rate of interest​

Answer 1

Amount after 2 years =Rs.783

Amount after 3 years =Rs.837

Therefore,

S.I. of 1 year =837−783=Rs.54

⇒ S.I. of 2 years =54×2=Rs.108

Principal sum =783−108=Rs.675

Therefore,

S.I.=100PRt​

⇒54=100675×R×1​

⇒R=67554×100​=8%

Step-by-step explanation:

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