a sum of money lent at simple interest amounts to ₹783 in 2years and to ₹837 in 3years find the sum and the rate percent per annun
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Answer: Sum is Rs. 675 and Rate of interest = 8%.
Step-by-step explanation:
Since we have given that
Amount in 2 years = Rs. 783---------(1)
Amount in 3 years = Rs. 837-----------(2)
Subtract (2) - (1), we get that
So, Simple Interest in (3-2=1) yr = Rs. 54
Simple interest in 2 years is given by
so, Principal will be
Now, we will find "Simple Interest "
Hence, Sum is Rs. 675 and Rate of interest = 8%.
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